Leavitt Brings the Receipts, Handwritten Trump Note to Blast Fed Chair Jerome Powell [WATCH]

White House Press Secretary Karoline Leavitt on Monday criticized Federal Reserve Chairman Jerome Powell for keeping interest rates elevated, arguing that the U.S. economy would be growing even faster if the Fed took more aggressive action to cut borrowing costs.

Leavitt delivered the message from the White House podium while holding a handwritten note from President Donald Trump aimed directly at Powell.

“Interest rates are still too high,” Leavitt said, attributing the delay in rate cuts to Powell’s hesitancy.

Trump’s Sovereign Wealth Fund: What Could It Mean For Your Money?

She emphasized that several countries with weaker economies currently enjoy lower interest rates than the United States.

Leavitt displayed a paper chart showing interest rates from countries around the world.

“Switzerland is only paying a quarter for interest rates,” she said, pointing to the data.

“Cambodia, Japan, Thailand, Botswana, Bulgaria, Cuba, Cabo Verde, Libya and many others are all paying lower interest rates than the United States, which has one of the hottest and strongest economies in the world.”

This Could Be the Most Important Video Gun Owners Watch All Year

She then read aloud a handwritten message from President Trump, scrawled across the top of the interest rate chart: “‘Jerome, you are as usual ‘too late.’ You have cost the U.S. a fortune and continue to do so. You should lower the rate by a lot. Hundreds of billions of dollars are being lost, and there is no inflation.’”

NEW: Karoline Leavitt holds up Trump’s handwritten note to Fed Chair Powell, telling him to cut rates.

This one’s classic Trump and Leavitt made sure everyone in the media saw it.

She held up the paper during the press briefing, pointing to the long list of countries with lower… pic.twitter.com/Oxd12V20IR

— The Vigilant Fox 🦊 (@VigilantFox) June 30, 2025

Leavitt’s remarks came as financial markets responded positively to a range of recent developments.

The Dow Jones Industrial Average briefly passed 44,000 on Monday, a level not seen since the week following President Trump’s re-election in November 2024.

Market confidence has grown amid easing tensions over trade policy and limited fallout from Middle East conflicts on global energy prices.

Despite the strong market performance and economic growth indicators, the Federal Reserve has maintained a cautious approach on rate policy.

Inflation measured just 2.35% in May, falling below the long-term U.S. average of 3.28%.

Additionally, unemployment data from May marked the third consecutive month that exceeded economists’ expectations.

However, some indicators still reflect uncertainty among business leaders.

A second-quarter survey from the U.S. Chamber of Commerce found that while business confidence rose compared to the first quarter, concerns remain about rising costs and unpredictable trade conditions.

“Small businesses are cautiously navigating a complex economic landscape,” said Tom Sullivan, Senior Vice President of Small Business Policy at the U.S. Chamber of Commerce.

“While they are confident in their business operations—especially at the local level—when it comes to long-term planning there is some hesitation as inflation concerns linger, and new trade policies create economic uncertainty.”

Despite those concerns, recent polling shows that voters continue to trust President Trump and the Republican Party more than Democrats on economic issues.

A poll released last month found that voters give Trump a 6-point advantage over Democrats on managing inflation, and an 8-point advantage on handling the broader economy.

President Trump has frequently voiced his dissatisfaction with Powell’s approach, particularly on interest rate policy.

The ongoing conflict between the White House and the Fed has drawn renewed attention following a recent U.S. Supreme Court decision that affirmed the legal protections shielding the Federal Reserve chairman from removal by the president.

“The Federal Reserve is a uniquely structured, quasi-private entity that follows in the distinct historical tradition of the First and Second Banks of the United States,” the majority opinion stated in last month’s ruling.

As markets continue to show strength and the administration pushes for further growth, the divide between President Trump and Powell over monetary policy remains a focal point of the broader economic discussion heading into the second half of the year.