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 stated on the X platform: “I just listened to Federal Reserve Chairman Jerome Powell’s testimony again, and he specifically pointed out that rising tariffs may exacerbate Inflation, as if he has witnessed Inflation firsthand. But in fact, Powell testified that this inflationary price rise has not occurred in the past two and a half months, with an inflation rate of zero. This is why President Trump calls Powell a loser, because Powell prefers to ignore tariff revenue and keep U.S. interest rates at the highest levels 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 the economy rise while reducing the deficit. Inflation does not exist at all, and he just proved that.”