President Donald J. Trump has publicly criticized Federal Reserve Chair Jerome Powell for maintaining what he describes as excessively high interest rates, asserting that the current federal funds rate is at least three percentage points too high. Trump claims this policy is costing the United States hundreds of billions of dollars annually, estimating a loss of $360 billion per percentage point each year in refinancing costs. He contrasts the U.S. stance with Europe, which has implemented 10 rate cuts, while the U.S. has made none. Trump argues that lowering the rates by 2.5 to 3 points would save billions on short-term debt, particularly under the Biden administration, and supports this by noting low inflation and increased corporate investment in the U.S. economy. He has repeatedly called for immediate interest rate reductions, describing Powell's leadership as destructive and complicit with the Federal Reserve Board, and emphasizes that the U.S. should be the top economic destination globally.