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Trump Pushes US Federal Reserve for Rate Cuts, Criticizes Powell

US President Donald Trump walks across the South Lawn as he returns to the White House following a trip to the Middle East, in Washington, D.C., US May 16, 2025. REUTERS/Nathan Howard
US President Donald Trump walks across the South Lawn as he returns to the White House following a trip to the Middle East, in Washington, D.C., US May 16, 2025. REUTERS/Nathan Howard
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Trump Pushes US Federal Reserve for Rate Cuts, Criticizes Powell

US President Donald Trump walks across the South Lawn as he returns to the White House following a trip to the Middle East, in Washington, D.C., US May 16, 2025. REUTERS/Nathan Howard
US President Donald Trump walks across the South Lawn as he returns to the White House following a trip to the Middle East, in Washington, D.C., US May 16, 2025. REUTERS/Nathan Howard

President Donald Trump on Saturday said in a social media post the US Federal Reserve should cut rates "sooner, rather than later."

Trump also criticized the head of the central bank, Jerome Powell.

"THE CONSENSUS OF ALMOST EVERYBODY IS THAT, 'THE FED SHOULD CUT RATES SOONER, RATHER THAN LATER,'" Trump said in the post.

"Too Late Powell, a man legendary for being Too Late, will probably blow it again - But who knows???" Trump added.

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Israel's Leviathan Gas Field to Resume Operations

FILE PHOTO: An Israeli military ship sails next to the production platform of Leviathan natural gas field in the Mediterranean Sea, off the coast of Haifa, northern Israel December 1, 2020. REUTERS/Ilan Rosenberg/File Photo
FILE PHOTO: An Israeli military ship sails next to the production platform of Leviathan natural gas field in the Mediterranean Sea, off the coast of Haifa, northern Israel December 1, 2020. REUTERS/Ilan Rosenberg/File Photo
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Israel's Leviathan Gas Field to Resume Operations

FILE PHOTO: An Israeli military ship sails next to the production platform of Leviathan natural gas field in the Mediterranean Sea, off the coast of Haifa, northern Israel December 1, 2020. REUTERS/Ilan Rosenberg/File Photo
FILE PHOTO: An Israeli military ship sails next to the production platform of Leviathan natural gas field in the Mediterranean Sea, off the coast of Haifa, northern Israel December 1, 2020. REUTERS/Ilan Rosenberg/File Photo

Israel's NewMed said on Wednesday the Leviathan natural gas field that supplies gas to Egypt and Jordan, shut down nearly two weeks ago due to the Iran-Israel conflict, would resume operations in the next few hours.

Two of Israel's three gas fields - Chevron-operated Leviathan and Energean's Karish - off its Mediterranean coast that provide the bulk of exports to Egypt and Jordan have been shut since June 13.

That left in operation only the older Tamar field, used mainly for domestic supplies.

Israel and Iran agreed to a ceasefire on Tuesday. Israel's Energy Ministry said that after a security assessment, Energy Minister Eli Cohen had ordered the opening of Leviathan and Karish, Reuters reported.

The ministry said resuming regular operations at the rigs will "enable the supply of natural gas to all customers", the resumption of gas exports to neighboring countries, a rise in state tax revenues, and greater flexibility in managing the electricity and industrial sectors.

Leviathan, a deep-sea field with huge deposits, came online at the end of 2019 and produces 12 billion cubic meters of gas per year for sale to Israel, Egypt and Jordan. That will rise to some 14 bcm in 2026.

In addition to Chevron and NewMed, Ratio Energies is also a partner in Leviathan.