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Trump Says He ‘Knows Interest Rates’ Much Better Than Powell

The president has begun a pressure campaign on the Fed to lower interest rates faster, despite ongoing inflation concerns.

By Skylar Woodhouse | January 24, 2025 at 12:57 AM
Jerome Powell and Donald Trump in 2017. Photographer: Olivier Douliery/Bloomberg.

President Donald Trump questioned Federal Reserve Chair Jerome Powell’s decision-making on interest rates and said he plans to speak to the central bank chief “at the right time.”

“I think I know interest rates much better than they do, and I think I know it certainly much better than the one who’s primarily in charge of making that decision,” Trump said, in an apparent reference to Powell, while speaking to reporters from the Oval Office Thursday. “If I disagree, I will let it be known.” Asked whether he believes Fed officials would listen to him, Trump responded, “Yeah.”

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