Federal Reserve Chairman Jerome Powell is announcing the bank’s decision on whether or not to cut interest rates.
He is set to give his announcement at 2 p.m.
Powell is widely expected to cut interest rates after months of intense pressure from President Donald Trump. Despite this, his long-running resistance has earned him the lasting ire of the president, who is likely to maintain his position that the Fed chairman acted too late.
HERE ARE THE GROUPS TRUMP HAS DESIGNATED AS TERRORIST ORGANIZATIONS
“He’s incompetent. I call him Jerome ‘too late’ Powell. He’s always too late,” Trump said during a luncheon of CEOs at the Asia-Pacific Economic Cooperation summit on Wednesday.
“But he’s out of there in another couple months,” Trump said. “We’ll be very happy about that. We’ll appoint somebody that we all like because we should have the lowest interest rates of any country. Because without us, there are no other countries, really. I mean, the whole thing falls apart. America always had the lowest rates, and now we don’t do that. We’re like 28, it’s ridiculous.”
