Trump Urges Fed Chair Powell to Cut Rates, Says Inflation Is Absent
Former U.S. President Donald Trump criticized Federal Reserve Chair Jerome Powell on Truth Social, calling him a disaster and demanding immediate rate cuts, claiming inflation does not exist.
Summary
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Terms & Concepts
- Federal Reserve Interest Rates: The target range set by the U.S. central bank that influences borrowing costs across the economy.
- Inflation: The rate at which the general level of prices for goods and services rises, eroding purchasing power.
- Truth Social: A social media platform launched by Trump Media & Technology Group, often used by Donald Trump to share statements.