President Trump reiterated his call for a jumbo rate cut from Fed Chair Jerome Powell.
The president spoke at the signing of a resolution targeting California’s plan to phase-out gas powered vehicles by 2035.
Trump urged Powell to cut rates by 1 percentage point to lower the cost of short-term debt, an ask he’s made before.
“All he has to do is lower it,” said Trump. At one point Trump referred to Powell as a “numbskull”.
The President reiterated he won’t fire Powell, even though he disagrees with his policy and inflation has not be trending higher.
“I’m not going to fire him”, said Trump. “He was in my office a couple of days ago,” he added
“I told him… cut your rates now,” said Trump. “Lets say there was inflation a year from now, raise your rates — I don’t mind.”