Former U.S. President Donald Trump has once again strongly criticized Federal Reserve Chairman Jerome Powell, calling him a 'numbskull' and demanding an immediate rate cut. Trump stated that if interest rates were lowered by two percentage points, the U.S. could save $600 billion annually, expressing dissatisfaction with the Fed's decision-making process regarding rate cuts.

As the economic data for May has been released, including the Producer Price Index (PPI) and Consumer Price Index (CPI), the results aligned with expectations, with PPI even falling below market predictions. This has intensified pressure from Trump and his allies, calling for action from the Fed. Trump noted in the White House that inflation is currently on the decline and urged the Fed to take action.

Despite Trump's ongoing attacks on Powell, the market response to the upcoming Fed meeting has been relatively calm. Currently, traders broadly expect that the Fed will not implement a rate cut next week, with the likelihood of a rate cut in September rising. Trump indicated he would not fire Powell but did not rule out that possibility.