Summary:

– Trump called on Fed governors to override Powell and cut interest rates .

– Two Trump-appointed Fed members supported modest cuts but stopped short of his demands.

– Trump linked steep rate cuts to economic growth despite inflation risks.

WASHINGTON — President Donald Trump on Friday called for the Federal Reserve ‘s board of governors to usurp the power of Fed Chair Jerome Powell , criticizing the head of the U.S. central bank for not cutting short-term interest rates.

Posting on his Truth Social platform, Trump called Powell “stubborn.” The Fed chair has been subjected to vicious verbal attacks by the Republican president over several months.

The Fed has the responsibility of stabilizing prices and maximizing employment . Powell has held its benchmark rat

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