President Donald Trump intensified his criticism of Federal Reserve Chairman Jerome Powell on Monday (April 21), calling him a "major loser" and demanding immediate interest rate cuts to prevent an economic slowdown. Trump expressed his views on Truth Social, arguing that with declining costs for energy and other goods, there is "virtually no inflation" in the U.S., and warned that the economy might slow unless rates are reduced now.

"With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW," Trump wrote.

Trump's comments come amid ongoing discussions within his administration about the possibility of legally removing Powell from his position before his term ends in May 2026. Powell, however, has stated that the president cannot lawfully dismiss him.

The stock market responded negatively to Trump's remarks, with the Dow Jones Industrial Average dropping 750 points, nearly a 2% decrease, while the Nasdaq fell by 2.6%. Additionally, the U.S. dollar hit its lowest level since 2022, prompting investors to seek safe-haven assets like gold, which reached a record high price on Monday.

Powell recently suggested that the president's trade policies could hinder economic growth and potentially increase inflation. He indicated that the Federal Reserve is not currently considering interest rate cuts, stating, "For the time being, we are well positioned to wait for greater clarity before considering any adjustments to our policy stance."

The WHO Morning Show with Jeff Angelo