Navarro: Powell's monetary policy is causing serious economic damage to the United States.

White House trade advisor Peter Navarro said that Federal Reserve Chairman Powell's refusal to lower interest rates is causing "serious economic damage" to the United States. Navarro posted on Substack urging the Federal Reserve Board to intervene in Powell's policy stance. He wrote, "If Powell does not voluntarily change course, the Board must take decisive action to prevent further economic harm." He stated that Federal Reserve policy is causing a decrease in federal tax revenue, worsening budget deficits, and deepening national debt. Navarro claimed that American households are experiencing "sharp economic pain."