Trump Calls for Lower Rates from Fed Chairman Powell

President Donald Trump expressed on Friday his desire for Federal Reserve Chairman Jerome Powell to lower interest rates, suggesting it would boost borrowing affordability. He noted that a lack of understanding of economic changes might be hindering Powell's decision-making, as stated during a White House news conference.

President Donald Trump on Friday urged Federal Reserve Chairman Jerome Powell to reduce interest rates, stating it would significantly enhance borrowing affordability. During a White House news conference, Trump said, "The only problem we have is we have a Fed guy that doesn't understand what's happening."

Trump emphasized that lowering the rates could lead to cheaper borrowing costs, which could be beneficial for the economy. He explained that Powell's actions could stem from a lack of understanding of the current economic climate.

The President's remarks underscore ongoing tensions between the White House and the Federal Reserve regarding monetary policy strategy and its impact on economic growth.

(With inputs from agencies.)