Trump calls for 3-point interest rate cut after June inflation data released

President Donald Trump said on Tuesday that consumer prices are lower and that the federal reserve should reduce interest rates.

“Consumer prices are low. Reducing the Federal Reserve rate, now !!!” Trump said in a post on the social truth.

The president said in a separate position that the central bank should reduce prices by three points.

“The Federal Reserve must reduce interest rates by 3 points. Very low inflation. A trillion dollars per year will be saved !!!” books.

Trump’s publications came at the same morning that the work statistics office issued the latest inflation data, with the Consumer Prices Index (CPI) increased in June of the previous month.

Inflation acceleration in June, where the Federal Reserve weighs the impact of definitions at the timing of price cuts

The main CPI rose to 2.7 % on an annual basis, slightly higher than Economists’ expectations. Core CPI – which excludes flying food and gasoline measurements – rose to 2.9 % than last year, which is slightly cooler than expected.

High inflation, as well as price pressures expected to arrive in the next few months, as more goods exposed to definitions on consumers reach, the complexity of expectations for the federal reserve to reduce interest rates. Federal Reserve Chairman Jerome Powell recently said that the Federal Reserve was likely to reduce interest rates this year, but because of the impact of the definitions that prompted inflation forecast up at the top.

Trump calls a “detailed” chair that interest rates should be less than 1 %

Reducing the CPI report in June the market expectations to reduce the rate later this month, as the possibility that the rates of the current range of 4.25 % to 4.5 % remain 93.8 % to 97.4 % today, for each CME Fedwatch tool. The probability of reducing the interest rate in September has also decreased, with the possibility of prices to appear at its current level increased from 37.4 % to 42.2 % during the last day.

Customers are looking for food on August 16, 2024 at the Costco branch in Colchster, Fermont. (Robert Nickelsberg / Getty Images / Getty Images)

Trump has repeatedly criticized the Federal Reserve for Monetary policy, Powell and the Central Bank urged to reduce interest rates to stimulate economic growth and also may reduce the cost of national debt service that exceeds $ 36 trillion – which has risen rapidly in recent years due to high interest rates.

Powell asks about the IG review after the tied buildings for the Trump administration have been renewed

The president threatened to shoot Powell, although he lacked the legal authority to do so except in the event of an end to the case. Trump’s allies recently focused on costs in renewing the federal reserve facilities in the country’s capital as a way to try to remove it for the reason.

President Donald Trump and Federal Reserve Chairman Jerome Powell (Getty Images / Getty Images)

The estimated cost of the project increased from $ 1.9 billion in 2019 to more than 2.5 billion dollars amid the costs of higher materials in addition to the unexpected opposite winds, such as having to remove more asbestos and address more pollution from toxic substances compared to early estimates.

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Powell asked the Federal Reserve Inspector to review the renewal project, while the Federal Reserve Bank issued a document indicating that the Central Bank Council and IG carried out the project supervision in the years that have passed since its inception.