Trump sends a harsh message to Powell on the global interest rate chart

president Donald Trump He sent a note to Federal Reserve Chairman Jerome Powell on Monday, showing that other countries around the world have lower interest rates compared to the US as they continue to accuse the president of keeping interest rates “artificially high.”

“Jerome, you’re too late, as usual. You’re still doing that at the expense of a lot of money to America,” White House press chief Caroline Leavitt told Powell on Monday. “‘You should cut your fees down quite a bit. You’ve lost hundreds of billions of dollars and there’s no inflation.”

Leavitt explained the cards I sent Powell A chart showing countries growing from Japan to Botswana shows that these countries have lower interest rates compared to the US. This was accompanied by Trump’s note telling Powell that he lost hundreds of billions of dollars in the US in the current target rate of 4.25% to 4.5%.

“This is a chart of interest rates for all countries around the world,” Levitt said, displaying a copy of the memo Trump sent Powell on Monday. “The top is Switzerland. They pay quarterly for interest rates. Cambodia, Japan, Denmark, Thailand, Botswana, Barbados, Taiwan, Bulgaria, Cuba, Sweden, Morocco, Cabo Verde, South Korea, Algeria, Canada, Albania, Libya, Malacia, China, News Zealand, Trinidad Bolivia, Australia, Costa Rica, Bahamas, Kuwait, Papua New Guinea, Bosnia, United Kingdom and the United Arab Emirates all pay lower interest rates than the United States.

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The Federal Reserve is the American central bank that sets monetary policy and oversees banks. It acts independently. This means that policy does not require approval from the president or Congress.

Trump has amplified his criticism of Powell in recent weeks, claiming that Powell should have already had to lower interest rates, calling him “numbskull” along with “Mr. Mr. To Late.” At the recent NATO summit in Canada, Trump said at a press conference that Powell was “awful” and was “a very average mental person” who “has a low IQ for what he’s doing.”

Trump raised Powell by not cutting interest rates: “The average mental person”

Powell said he testified before a House committee in early June that he resisted the decline rate to monitor whether tariffs promote inflation. FRB The retained fee is constant Their four consecutive meetings will be held at the beginning of June, and their next meeting will be held in late July.

The president argued that Powell should cut the rate to “1% or 2%,” according to an interview with Fox News’ Maria Bartiromo on Sunday morning.

“We have a bad Fed chairperson, but other than that…it’s not even a problem, the numbers are very good and it’s not a problem for him to keep the fees artificially high,” Trump said on Sunday.

Powell, who was first appointed to work by Trump in his first administration, Federal Reserve System in 2026. Trump recently told the media he was in the midst of judging “three or four” people to succeed Powell.

Leavitt was asked Monday why Trump wouldn’t “fire Jerome Powell and get a lower fee.”

Trump raised Powell by not cutting interest rates: “The average mental person”

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“It’s a good question and because it’s a decision he’ll make to the President,” Levitt replied. “But you’re right to point out the politicization of the Fed. And it’s very unfortunate for our country.”

“But Jerome Powell cut back on multiple occasions prior to the election when Joe Biden was in this oval office,” she said. “But now he’s rejecting it when the economy is in a much better place. So there’s really no good explanation for that. And the president is justly bringing attention to it.”

Eric Revell from Fox News Digital contributed to this report.