US Commerce Secretary: Powell Ignores Tariff Revenue, Cutting Rates by 1% Could Save Hundreds of Billions in Interest Payments

According to a report by Jinse Finance, U.S. Secretary of Commerce Lutnick posted on X, stating: “I just listened again to Federal Reserve Chairman Jerome Powell’s testimony, where he specifically pointed out that rising tariffs could exacerbate inflation, as if he had witnessed inflation firsthand. But in reality, Powell testified that over the past two and a half months, this inflationary price increase has not occurred, and the inflation rate is zero. That’s why President Trump calls Powell a failure—because Powell would rather ignore tariff revenues and keep U.S. interest rates the highest in the world (for a first-class country), simply because he is afraid to take action. For every 1% rate cut, the U.S. could save hundreds of billions of dollars in interest expenses. Powell should be helping to grow the economy while reducing the deficit. Inflation simply does not exist, and he has just proven it.”