Investing.com -- In a recent post on Truth Social, President Donald Trump called for "Preemptive Cuts" in interest rates. He suggested that many have been advocating for this move, noting that energy costs have significantly decreased, food prices have lowered substantially, and most other items are following a similar downward trend. As a result, Trump argues, there is virtually no inflation.

He further expressed his belief that without a decrease in interest rates, the economy could potentially slow down. Trump pointed out that Europe has already reduced its rates seven times, implying that the U.S. should follow suit. He criticized Federal Reserve Chair Jerome Powell, referring to him as "Too Late", and suggesting that Powell’s actions have been tardy except during the election period. Trump alleged that Powell lowered rates to assist in the election of Joe Biden, and later Kamala Harris.

Last week, Trump expressed dissatisfaction with Powell on Truth Social, implying that Powell’s removal from his position should be expedited. He referred to Powell as "Too Late" in his post and stated, "Powell’s termination cannot come fast enough!"

Trump’s comments indicate his belief that the U.S. central bank should have already lowered interest rates this year and should do so immediately.

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