US Commerce Secretary Urges Fed to Cut ‘Meaningless’ Interest Rates

In Brief:

Secretary Ruttnik criticizes Fed Chair Powell over high interest rates

Says U.S. shouldn't bear highest rates among top economies

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On June 21, U.S. Secretary of Commerce Ruttnik posted on X, calling on Federal Reserve Chair Jerome Powell to lower interest rates, criticizing the current levels as unjustified.

“The United States is the greatest country in the world, yet we’re stuck with the highest interest rates among first-tier nations,” Ruttnik wrote, adding that Powell seems “afraid of his own shadow.”

Ruttnik also pushed back on Powell’s claims that tariffs contributed to rising prices in sectors like personal computers—stating clearly that no tariffs exist on PCs yet, and that upcoming semiconductor-related duties are still under review by the Commerce Department.

The statement reflects growing pressure from within the U.S. government to ease monetary policy amid lingering inflation concerns and global economic shifts.

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