Trump again slams Fed chair, demands rate cuts immediately

US President Donald Trump and Federal Reserve Chair Jerome Powell during a press event at the White House

US President Donald Trump called on the Federal Reserve to cut interest rates significantly and immediately, asserting that inflation no longer poses a threat to the world's largest economy.

“Just out: No Inflation!!! “Too Late” must lower the RATE, BIG, right now. Powell is a total disaster, who doesn’t have a clue!!!,” Trump wrote in a post on Truth platform.

Trump continues to pressure Federal Reserve Chairman Jerome Powell, whom he appointed during his first term, accusing him of failing to manage monetary policy, days before the Federal Reserve's interest rate-setting meeting.

The US President’s comments came after data released today showed producer prices contracting on a monthly basis in August, as businesses were reluctant to pass on the additional costs resulting from his tariffs to consumers.