Karoline Leavitt Reveals What Trump Wrote To Fed Chair Jerome Powell In Letter

During a press briefing on Monday, White House Press Secretary Karoline Leavitt spoke about Federal Reserve Chair Jerome Powell.

Transcript

00:00in American history. We are truly coming off a historic week of President Trump racking up win

00:07after win on behalf of the American people. President Trump restored peace through strength

00:12and acted decisively as commander-in-chief to obliterate the immediate threat of the Iranian

00:17regime's nuclear capabilities and then brokered a ceasefire between Israel and Iran, which continues

00:24to hold. Then, the President traveled to the Netherlands and achieved a monumental win for

00:29the United States and the NATO alliance by getting our allies to dedicate 5 percent of their GDPs to

00:35military spending. As a result of President Trump unleashing American energy dominance, summer gas

00:42prices are at the lowest they have been in four years, heading into the July 4th week. And with

00:48the incoming Trump economic boom, the stock market continues to roar back, with the S&P 500 and the

00:55NASDAQ, both hitting record highs. And on this point of an economic boom, I bring to you original

01:01correspondence from the President of the United States to our Fed Chair, Jerome Powell. As the

01:07President has consistently stated, the American economy is booming. And there were so many economic

01:12analysts who said that this President's policies would drive our economy down when in fact we have

01:17seen the opposite. We've seen a massive deregulation campaign take place. We've seen inflation completely

01:23diminished from where it was under the reckless spending and the bad policies of the previous

01:28incompetent administration.

01:29I would remind the Fed Chair and I would remind the entire world that this is a President who was a

01:34businessman first. And he knows what he is doing. He has a proven economic formula that worked in his

01:40first term as President. And it is working again. The one problem that remains is high interest rates for

01:46the American people. The American people want to borrow money cheaply, and they should be able to do that. But

01:51unfortunately, we have interest rates that are still too high. So the President sent this note

01:55to the Fed Chair today. And if you look at this chart, this is a chart of all of the interest rates

02:01of many countries throughout the world. At the top is Switzerland. They're only paying a quarter

02:06for interest rates. Cambodia, Japan, Denmark, Thailand, Botswana, Barbados, Taiwan, Bulgaria, Cuba, Sweden, Morocco,

02:15Cabo Verde, South Korea, Algeria, Canada, Albania, Libya, Malaysia, China, New Zealand, Trinidad and Tobago,

02:23Czechia, Bolivia, Australia, Costa Rica, the Bahamas, Kuwait, Papua New Guinea, Bosnia, United Kingdom and

02:30the UAE are all paying lower interest rates than the United States of America, which has one of the hottest

02:36and strongest economies in the world. The President sent this note to the Fed Chair. It says,

02:42Jerome, you are, as usual, too late. You have cost the USA a fortune and continue to do so.

02:48You should lower the rate by a lot. Hundreds of billions of dollars are being lost, and there is

02:52no inflation. And the President is right. There is historically low inflation, thanks to his policies.

02:59And we will continue to drive down the cost of living in this country for Americans. We will continue

03:03to deregulate. And it's also incredibly important that we pass this one big, beautiful bill,

03:09which is the largest tax cuts in American history. And that's why the White House and the President

03:15himself have been in touch with lawmakers all weekend long to get this bill passed. And they

03:21are working very hard to do so. It remains a top priority for the President. And this bill

03:26has exposed the clear differences between Republicans and Democrats in 2025.