Trump Urges Fed Board to ‘Assume Control’ If Rates Not Cut

In a tweet, President Donald Trump urged the Federal Reserve (Fed) board to "assume control" if Chair Jerome Powell does not lower interest rates. This statement escalates the ongoing feud between the president and the head of the central bank. Trump has repeatedly criticized the Fed's decision to raise interest rates, arguing that it has slowed economic growth. The president's latest comments suggest that he wants the Fed board to override Powell's policy decisions if he fails to cut rates as Trump desires. The president's attempts to influence the Fed's independent monetary policy decisions have raised concerns about the potential politicization of the central bank. Economists warn that such interference could undermine the Fed's credibility and its ability to effectively manage the economy. The article highlights the ongoing tension between the White House and the Federal Reserve, with the president's latest remarks seen as a further escalation of his efforts to pressure the central bank to align its policies with his economic agenda.