U.S. Secretary of Commerce: Powell ignores tariff revenue, a 1% interest rate cut could save 100s of billions in interest expenses.

[The U.S. Secretary of Commerce: Powell ignores tariff revenue, a 1% rate cut could save 100s of billions in interest expenses] U.S. Secretary of Commerce Gina Raimondo posted on the X platform: “I just listened to Federal Reserve Chairman Jerome Powell’s testimony again. He specifically pointed out that the rise in tariffs could exacerbate inflation, as if he had witnessed inflation firsthand. But in fact, Powell testified that in the past two and a half months, this inflationary price rise has not occurred, and the inflation rate is zero. That is why President Trump called Powell a loser, because Powell would rather ignore tariff revenue and keep U.S. interest rates at the highest level in the world (for a first-class country) because he is afraid to take action. For every 1% rate cut, the U.S. could save 100s of billions in interest expenses. Powell should help with economic growth while reducing the deficit. Inflation simply does not exist; he just proved that.”