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Former U.S. President Donald Trump has publicly called on Federal Reserve Chairman Jerome Powell to cut interest rates, urging swift action as the Nasdaq Composite index officially slipped into bear market territory. In a Truth Social post dated April 4 at 8:38 PM, Trump stated, “This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates.”
The post came shortly after the Nasdaq plunged over 6%, taking the index more than 20% below its recent peak of 20,204, thus triggering a bear market status. Trump emphasized that economic indicators have turned favorable in recent weeks, arguing that now is the time to act decisively.
“He is always ‘late,’ but he could now change his image, and quickly,” Trump wrote, referring to Powell. “Energy prices are down, Interest Rates are down, Inflation is down, even Eggs are down 69%, and Jobs are UP, all within two months – A BIG WIN for America.”
The former president ended the post with a forceful message: “CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!”
Trump’s statement adds political pressure on the Federal Reserve at a time when investors are already jittery over economic outlooks, inflation trends, and corporate earnings. While inflation may be showing signs of easing, the Fed has so far remained cautious, wary of loosening monetary policy prematurely.
The steep correction in the Nasdaq—home to many technology and growth stocks—has shaken investor confidence and reignited debates around monetary policy ahead of the upcoming U.S. elections.
As of now, there has been no official response from the Federal Reserve or Chairman Powell.