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US Commerce Secretary: Powell Ignores Tariff Revenue, Cuts Interest Rates by 1%, US Could Save Hundreds of Billions in Interest Payments
Summary: According to reports, US Commerce Secretary Lutnick posted on X platform, stating: "I just listened to Federal Reserve Chairman Jerome Powell's testimony again. He deliberately pointed out that tariff increases could exacerbate inflation, as if he had witnessed inflation with his own eyes. However, in fact, he testified that in the past two and a ...
According to reports, US Commerce Secretary Lutnick posted on X platform, stating: "I just listened to Federal Reserve Chairman Jerome Powell's testimony again. He deliberately pointed out that tariff increases could exacerbate inflation, as if he had witnessed inflation with his own eyes. However, in fact, he testified that in the past two and a half months, this inflationary price increase has not occurred, with inflation rate at zero. That's why President Trump called Powell a failure. Because Powell would rather ignore tariff revenue and keep US interest rates at the highest level in the world (for a first-class country), because he is afraid to take action. For every 1% interest rate cut, the US could save hundreds of billions of dollars in interest payments. Powell should help economic growth while reducing the deficit. Inflation simply does not exist, he just proved that point."
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Link: US Commerce Secretary: Powell Ignores Tariff Revenue, Cuts Interest Rates by 1%, US Could Save Hundreds of Billions in Interest Payments [Copy]
