Trump ramps up attacks on Powell, demands 'loser' Fed chair lower rates 'NOW'

President Donald Trump on Monday ratcheted up his pressure campaign on Federal Reserve Chairman Jerome Powell, calling him a "major loser" and warning that the U.S. economy could slow down unless interest rates are lowered immediately.

"'Preemptive Cuts' in Interest Rates are being called for by many," Trump wrote on Truth Social.

Trump claimed that there is currently "virtually No Inflation" in the U.S., and that costs for energy and "most other 'things'" are on the decline.

"With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW," Trump wrote.

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