Live, rolling coverage of business, economics and financial markets as ECB reduces main interest rate from 2.5% to 2.25%, the seventh cut in a year
Trump attacks Fed chair Jerome Powell for not lowering interest ratesECB cuts rates for third time this year as Europe braces for Trump tariffs
Donald Trump is awake. And he has strongly criticised monetary policy by the Federal Reserve, saying the end of Jerome Powell’s tenure as chair “cannot come fast enough”.
In a post on Truth Social, the social network he owns, Trump said that Powell had been too slow to cut interest rates – contrasting its hesistance because of perceived inflationary pressures with the European Central Bank (ECB).
The ECB is expected to cut interest rates for the 7th time, and yet, “Too Late” Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete “mess!” Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!
Huang said “China was a very important market for Nvidia” and expressed hope that his company could “continue co-operating” with the country, according to state broadcaster CCTV.
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