President Trump escalated his attacks on Federal Reserve Chairman Jerome Powell Monday, dubbing him a "major loser" who is dragging his feet on lowering interest rates.
Stocks plummeted in early trading Monday, with the Dow Jones Industrial Average more than 2.5% before noon. Mr. Trump, writing on Truth Social, pointed to declining prices for eggs and other goods to justify his demand. The central bank has been cautious about lowering rates, hoping to guide a soft landing after rampant inflation during the Biden years. "With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW," Mr. Trump wrote. Mr. Trump is prodding Mr. Powell and the Fed in harsh terms as he tries to steer the economy through his aggressive trade actions. The White House's decision to impose a blanket 10% tariff on imports and 145% levy on Chinese goods is…