Trump says US needs a 'very serious' rate cut

AWANI

President Trump says the U.S. needs a “very serious” rate cut and blames Fed Chair Jerome Powell calling him “Too Late Powell” for making it harder for Americans to get mortgages. Trump claims Powell was quick to cut rates before the 2020 election to help Biden, but now he's acting too slowly. Meanwhile, Powell has hinted at a possible rate cut soon, but says it depends on economic data, not politics.

Transcript

00:00U.S. President Donald Trump said on Tuesday, September 2nd, the United States needed very serious rate cut from the Federal Reserve.

00:08The Republican leader has been very critical of Fed Chair Jerome Powell for not cutting interest rates.

00:14Recently you pushed out a statement about addressing an emergency housing situation.

00:18I'm sure we're thinking about doing that.

00:20Well, we need a little help from the Fed. We have a man named Jerome Too Late Powell.

00:26You probably heard of him. He's too late. Way too late.

00:30And the economy is so strong that it's pushing through that.

00:33Normally it would have been much tougher, but we're doing so well that we're pushing through it.

00:38But it makes it very hard for people to get mortgages because too late is too late.

00:43Very simple. He's too late. And probably political, whatever.

00:47He wasn't too late before the election. Before the election he was cutting rates, right?

00:51Because he was hoping that, I guess, Biden would get in or that Kamala would.

00:55He was a big Biden guy. Explain that one.

00:59And then he was a Kamala person. But he was hoping, I guess, she'd win.

01:03I guess. I don't know. It didn't work out too well.

01:06But, yeah, we need a very serious cut.

01:09Going up to the Supreme Court, who I think...

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