President, whose tariffs has caused turmoil, said Jerome Powell is ‘always too late and wrong’ with rate policy

Donald Trump early on Thursday condemned the Federal Reserve chair, Jerome Powell, for not lowering US interest rates, and expressed a wish for him to be gone from his role.

The US president lambasted Powell as “always too late and wrong” in a post on his Truth Social platform. Trump noted that the European Central Bank (ECB) was poised on Thursday to lower interest rates again, without mentioning that the body has been responding to the chaos caused by Trump’s initiatives on tariffs.

Live, rolling coverage of business, economics and financial markets as ECB reduces main interest rate from 2.5% to 2.25%, the seventh cut in a year

• Trump attacks Fed chair Jerome Powell for not lowering interest rates
• ECB cuts rates for third time this year as Europe braces for Trump tariffs

Donald Trump is awake. And he has strongly criticised monetary policy by the Federal Reserve, saying the end of Jerome Powell’s tenure as chair “cannot come fast enough”.

In a post on Truth Social, the social network he owns, Trump said that Powell had been too slow to cut interest rates – contrasting its hesistance because of perceived inflationary pressures with the European Central Bank (ECB).

The ECB is expected to cut interest rates for the 7th time, and yet, “Too Late” Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete “mess!” Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!

Huang said “China was a very important market for Nvidia” and expressed hope that his company could “continue co-operating” with the country, according to state broadcaster CCTV.

What does the British Steel crisis reveal about the UK’s critical infrastructure? Jasper Jolly reports

On Saturday, when MPs were supposed to be on their Easter holidays, a rare emergency sitting was called. Jonathan Reynolds, the business secretary, told the House of Commons that they were meeting “in exceptional circumstances to take exceptional action in what are exceptional times”.

MPs passed a bill to save the Scunthorpe steelworks, a vital part of the UK’s critical infrastructure and the last remaining maker of mass-produced virgin steel. The emergency legislation allowed the government to instruct the Chinese owners of the British Steel plant, Jingye, to keep Scunthorpe open or face criminal penalties.