Trump: Powell is a "dummy" and a 200 basis point rate cut would save $600 billion a year

Odaily Planet Daily News Trump said he does not intend to fire Federal Reserve Chairman Powell, but called him a "stupid" because he did not cut interest rates. Speaking at an event at the White House on Thursday, Trump said that a 200 basis point interest rate cut could save the United States $600 billion a year. "We are spending $600 billion a year just because a 'stupid' sits here and says 'I don't see enough reason to cut interest rates now,'" Trump said. Trump added that if inflation rises, he agrees with the Fed to raise interest rates, "but now that inflation is falling, I may have to do something."