U.S. Secretary of Commerce urges Powell to cut interest rates: The U.S. has to bear the highest interest rates among developed countries, which makes no sense.

On June 21, U.S. Secretary of Commerce Gina Raimondo posted on the X platform stating that America is the greatest country in the world, yet it has to endure the highest interest rates among all first-rate countries. Our Federal Reserve Chairman clearly fears even his own shadow. The truly disheartening aspect of Powell’s remarks is that he claims tariffs have led to “price increases for some relevant categories of products, such as personal computers.” You would think Powell should know that there are currently no tariffs on personal computers. Tariffs on semiconductors and computers will be announced after the analysis is completed by the Department of Commerce. These high interest rates are meaningless.