Trump Blasts Fed's Powell as 'Numbskull,' Demands Rate Cuts

Trump Calls Fed Chief Powell 'Numbskull,' Urges Rate Cuts

President Donald Trump has escalated his criticism of Federal Reserve Chair Jerome Powell, referring to him as a "numbskull" and intensifying pressure on the central bank to lower interest rates.

Trump stated at the White House that a two-percentage-point cut in interest rates would save the U.S. $600 billion per year. He expressed his frustration, saying, "We're going to spend $600 billion a year, $600 billion because of one numbskull that sits here [and says] 'I don't see enough reason to cut the rates now.'"

This is a developing story, and further updates will be provided as they become available.