Trump calls for rate cut again, but maybe "not firing Powell"

On June 20th, local time, President Trump once again called on Federal Reserve Chairman Powell to lower interest rates. Trump said he might change his mind about not firing Powell. Trump once again referred to Powell as "Mr. Too Late" on social media, and harshly criticized his complaints about the cost of inflation as being caused by "the Biden administration's economic problems." He said Powell should make the "biggest and best contribution" to America by lowering interest rates. Trump wrote, "If he lowers the rate to the proper level - 1% to 2%, this 'idiot' could save America up to $1 trillion each year." He also said the U.S. currently has "almost no inflation" and the economy is performing well. Trump stated that if Powell is truly concerned about inflation or other risks, he should "lower rates now" and raise them in the future if the situation changes. In addition, Trump hinted that he may reconsider whether to dismiss Powell. Trump said, "Perhaps, just perhaps, I might change my mind and not fire him? But either way, his term is ending soon."