On the 17th (local time), U.S. President Donald Trump pressured Jerome Powell, Chair of the Central Bank, to "lower the interest rates." He also told the U.S. retail chain Walmart, "Do not blame the tariff for price increases."
On the same day, Trump posted several messages targeting Powell and Walmart on his account on Truth Social. He wrote to Powell, "Almost everyone thinks the Central Bank should’ve lowered the interest rates long ago." He added, "The legendary Powell will miss it again as it has been too late. But who knows?"
Earlier, the Central Bank held a Federal Open Market Committee (FOMC) meeting on the 7th and kept the benchmark interest rate at 4.25–4.5% annually. This marks the third time the interest rate has been held steady during Trump’s presidency. Consequently, Trump has publicly demanded that the Central Bank lower rates to stimulate the economy.
In another post on Truth Social, Trump told Walmart, "Do not blame the tariff while raising prices." He stated, "Walmart earned several billion dollars (trillions of won) last year, much more than expected, so do not pass the prices on to consumers. I am watching, and consumers are watching too."
John David Rainey, Walmart's Chief Financial Officer, said in an interview with U.S. economic media CNBC on the 15th that tariffs are too high and that Walmart may raise product prices by the end of this month or next month.