President Trump criticized Fed Chairman Jerome Powell for keeping interest rates stable at his May 7 meeting, saying he was "too late" to lower the central bank's benchmark interest rate.

Mr. Trump’s post on his Truth Social App is his latest post in a series of criticisms that Powell has continued to keep pace with this year. Meanwhile, the Bank of England cut its main interest rate by a quarter percentage point on Thursday, a focus on 4.25% on that concern Potential impact Global growth comes from the Trump administration's tariff policies.

The Fed's last tax cut was in December 2024, when the central bank lowered the tax rate to a range of 4.25% to 4.50%.

At yesterday's press conference, Powell Expressed the Fed's reasoning To maintain stability, including economic data (temporarily) shows that the United States is in relatively good shape. The Fed chairman also noted that its policymakers hope to insist on any action before the impact of Mr. Trump's economic policy Become clearerfor example, the impact of his wide range of tariffs on inflation and economic growth.

Mr. Trump inaccurately claimed on Thursday that “little is there inflation.” inflation Up 2.4% In March each year, this reflects a cooler pace than previous months, but still exceeds the Fed’s stated goal of annual speed of 2%.

"Oil and energy are falling, almost all expenses (grocery and 'eggs') are down, there is little inflation, tariffs are dumping on the U.S., which is the exact opposite of 'too late!'! Enjoy!" Trump wrote in a post on Thursday.

Powell tries to emphasize The independence of the Federal Reservenoted in December that insulating from political influence is “for the benefit of all Americans”, allowing it to make decisions based on economic data rather than the demands of elected officials.

Economists say the Fed’s independence allows it to fulfill its dual mandate (to keep inflation low and labor markets fully employed) without the pressure from elected officials. The country where central banks transfer interest rates at politicians' whim There is often inflation rate and other financial troubles, Experts pointed out.

Mr. Trump's repeated pressure on Powell to lower interest rates could have the opposite effect, noting that investment consulting firms would be refused to give Kalkar research.

"Submission to Trump's cut pressure must be avoided, which will further undermine confidence in U.S. decision-making and the dollar," he wrote in a May 6 study. "The risk is Trump creating an environment that forces Powell to move forward very carefully. By calling it too late, the president may have created a self-fulfilling prophecy."