After releasing a slightly higher-than-expected inflation report last night, Trump and his allies took the opportunity to criticize the Federal Reserve for cutting interest rates too much last month! "The fact is that the Fed cut interest rates a little too quickly," he said during an appearance at the Detroit Economic Club. "The rate cut was too big, and everyone knows that this is a political strategy they are trying to use before the election," he added. This is Trump's "most direct criticism" of Federal Reserve Chairman Powell in months.

Previously, he has often focused on blaming the economy for the downturn rather than criticizing the central bank directly. "This is entirely a political decision, and inflation has already started to rise," Trump said Thursday, while also blaming high interest rates for "really killing the American dream for young people." In August, Trump said he wanted to have a "say" in setting interest rates, raising the possibility that the Republican candidate might seek to weaken the Fed's independence if he wins in November. Make America Great Again, a pro-Trump super PAC

The Federal Reserve also issued a statement on Thursday saying that Thursday's inflation data may be part of the "Federal Reserve's worst nightmare." The so-called Super Political Action Committee (, , is a new American political organization that emerged in 2010 and aims to influence election results by raising and spending large amounts of money. In simple terms, it is the main channel for big donors to donate money to candidates during the US election.