NEW: Trump slams Fed Chair Jerome Powell over US interest rates: '1% interest or better!'

President Donald Trump slammed Federal Reserve Chair Jerome Powell on Monday over not cutting the interest rates at the Fed, a point that the president has been making for the last few months.

Trump posted to Truth Social, "Jerome 'Too Late' Powell, and his entire Board, should be ashamed of themselves for allowing this to happen to the United States. They have one of the easiest, yet most prestigious, jobs in America, and they have FAILED — And continue to do so. If they were doing their job properly, our Country would be saving Trillions of Dollars in Interest Cost. The Board just sits there and watches, so they are equally to blame. We should be paying 1% Interest, or better!"



Trump displayed a letter to Powell across a list of different countries with their various central bank interest rates and said that the US should be near Japan and Denmark's rates of 0.5 percent and 1.75 percent respectively.  

The letter said, "Jerome—you are as usual, 'too late.' You have cost the USA a fortune and continue to do so. You should lower the rate—by a lot! Hundreds of billions of dollars being lost. No inflation."

A similar message was given by White House Press Secretary Karoline Leavitt, who displayed a copy of Trump's message in the press briefing room on Monday.  

The comments from Trump come after there have been a few months in a row with lowering inflation rates despite fears over the possibility in the markets because of the tariffs that the president has implemented.