Trump Says Inflation Still Too High but Continues to Trust Fed Chair Powell

Donald Trump, former U.S. president, has stated that U.S. inflation remains excessively high while reaffirming his trust in Federal Reserve Chairman Jerome Powell following the central bank's recent interest rate increase.

According to a report by Cobey Letter on Thursday (local time), Trump said 'inflation is too high,' and despite the Fed's decision to raise rates, he stated that Powell remains someone he trusts. He also expressed his desire for Powell to continue operating monetary policy independently.

The Federal Reserve recently raised its benchmark rate by 0.25 percentage points to a range of 3.75%-4.00%, marking the first rate hike in about three years since July 2023.