Trump urges Fed to lower rates, again, saying rates 3 points 'too high'

ISTANBUL

US President Donald Trump said Wednesday that Federal Reserve Chair Jerome Powell should lower interest rates, saying they are three points "too high."

He again called Powell "Too Late," indicating that he was late to lower the rates while other central banks began their easing cycles.

"'Too Late' is costing the U.S. 360 Billion Dollars a Point, PER YEAR, in refinancing costs," Trump wrote on social media, "No Inflation, COMPANIES POURING INTO AMERICA. 'The hottest Country in the World!' LOWER THE RATE!!!"

In a separate post, Trump wrote: "ANYBODY BUT 'TOO LATE.'"

The president has repeatedly demanded cuts to the Fed interest rate, citing European central banks and warning delays could stall the US economy.

Last week, Trump said that Powell “should resign immediately.”

He previously called the Fed chair "terrible", "a fool", "a major loser" and a "numbskull."

The Wall Street Journal reported Tuesday that Trump is considering White House economic adviser Kevin Hassett as a significant contender to be the next Fed chair.

Powell's tenure will end next May.