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Unelected Officials 'Complicit' in Costing Taxpayers Billions, Trump Says

  • The US Federal Reserve decided on Wednesday, June 19, to keep interest rates unchanged at 4.25-4.50 percent, maintaining the current borrowing range since December.
  • This decision occurred as President Donald Trump continued to sharply criticize Fed Chair Jerome Powell for maintaining interest rates, which Trump claims has resulted in substantial financial harm to the nation.
  • Trump publicly called Powell a 'real dummy' and 'the worst,' claiming Europe had cut rates ten times while the US had made no reductions, and demanded immediate rate cuts or Powell's resignation.
  • Trump posted on Truth Social that Powell is 'costing the country hundreds of billions of dollars' and described the Federal Reserve Board as 'complicit' in harming the economy by delaying cuts.
  • This ongoing dispute underscores tension between Trump and the Federal Reserve, with Trump focusing on economic policy in his 2024 campaign and opposing Powell’s approach.
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Unelected officials 'complicit' in costing taxpayers billions, Trump says

(The Center Square) – President Donald Trump said Thursday that Federal Reserve Chairman Jerome Powell is costing U.S. taxpayers by not lowering interest rates.

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  • 44% of the sources are Center
44% Center
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Newsmax broke the news in Washington, United States on Thursday, June 19, 2025.
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