By Mucahithan Avcioglu
ISTANBUL (AA) - US President Donald Trump on Tuesday again called on US Federal Reserve Chair Jerome Powell to cut interest rates after annual inflation in December showed no change from the previous month.
"JUST OUT: Great (LOW!) Inflation numbers for the USA. That means that Jerome 'Too Late' Powell should cut interest rates, MEANINGFULLY!!!" Trump wrote on his Truth Social platform.
"If he doesn’t he will just continue to be, 'TOO LATE!’" he added.
US annual inflation was at 2.7% in December, unchanged from November and in line with market expectations.
According to Bureau of Labor Statistics data Tuesday, monthly inflation in December was 0.3%.
Since returning to the White House a year ago, Trump has repeatedly urged Powell to cut interest rates.
The Fed has cut the policy rate three times to the range of 3.5%-3.75% since the start of Trump’s second term, due to the weak labor market.
Trump’s exhortation came days after he filed suit against Powell over the Fed chair allegedly lying to Congress about a construction project. Powell, however, called the lawsuit another effort to pressure him over interest rates.
Powell’s term as Fed chair is set to end this May.