Ahead of next week’s Federal Reserve meeting, tensions are escalating between the White House and the central bank, with consumers seemingly caught in the crossfire.
On Thursday, President Donald Trump called Fed Chair Jerome Powell a “numbskull” for not lowering interest rates already.
Trump has previously said the central bank should cut interest rates by a full percentage point. “Go for a full point, Rocket Fuel!” Trump wrote in a Truth Social post on Friday.
Vice President JD Vance echoed the president’s message in a social media post Wednesday on X, after a key inflation reading came in slightly better than expected.
“The president has been saying this for a while, but it’s even more clear: the refusal by the Fed to cut rates is monetary malpractice,” Vance wrote.
