Trump sends handwritten letter to Powell demanding ultra-low interest rates

On Monday, President Donald Trump escalated his attacks on Federal Reserve Chair Jerome Powell, demanding deep interest rate cuts and accusing the Fed’s board of harming the U.S. economy. Trump posted a chart showing U.S. rates among the world’s highest and claimed Powell has “cost the USA a fortune.” Despite Trump’s months-long pressure, the Fed has kept rates steady, focusing on controlling inflation. Powell has refused to respond directly to Trump’s insults, emphasizing the Fed’s independence and data-driven policy, CNN has reported. ECB President Christine Lagarde praised Powell for his principled stance at a conference in Portugal.