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How many times did Trump urge Powell to cut interest rates? Why won't Powell cut?
Deng Tong, Golden Finance
On June 24, 2025, Trump posted on his social media platform "Truth Social" saying, "Too late, Mr. Chairman Jerome Powell of the Federal Reserve will explain today in Congress why he refuses to lower interest rates. Europe has cut rates 10 times, while we have done so zero times. There is no inflation, the economy is booming – we should at least lower it by 2 to 3 percentage points. It would save America $800 billion a year.
Since Trump took office in January, how many times has he urged Powell to cut interest rates? Why does Trump urge? Why doesn’t Powell cut interest rates?
1. How many times did Trump urge Powell?
According to statistics from Jinse Finance, Trump has urged Powell at least 17 times. He has also referred to him multiple times as "Mr. Too Late" and "idiot", expressing his dissatisfaction with Powell.
II. Why is Trump in a hurry to cut interest rates?
3. Why is Powell not cutting interest rates?
On June 19, Federal Reserve Chairman Jerome Powell stated that although the Federal Reserve "can see that the labor market may be slowly and steadily cooling," this cooling is not a cause for concern given the current strong labor force participation rate and good wage growth. He remarked, "While the uncertainty about the economic outlook has decreased, it remains at a high level." As long as the current labor market conditions are observed, along with reasonable economic growth and gradually easing inflation, Powell said he is willing to continue waiting for more information before deciding on the next steps.
Data shows that despite a 0.3% quarter-on-quarter contraction in GDP in the first quarter of 2025, the labor market is performing strongly: the unemployment rate remains low at 4.5%, and hourly wage growth is above 4%. Powell pointed out that "hard data" such as consumer spending and business investment still indicate that the economy is expanding at a rate of 1.5%-2%, contrasting with the weakness of "soft indicators" like the manufacturing PMI. This structural contradiction leads the Federal Reserve to believe that the current economy has not fallen into recession and does not need to stimulate demand through interest rate cuts.
4. How do others view the issue of the Federal Reserve's interest rate cuts?
supports interest rate cuts:
does not support interest rate cuts:
5. Prediction of the Federal Reserve's Interest Rate Cut Timing