Trump Slams Fed's Decision: "Stupid" Powell Refuses to Lower Interest Rates
Federal Reserve Maintains Interest Rate; President Trump Criticizes Chairman Powell as 'Unintelligent' - Federal Reserve maintains interest rates; Trump brands Chairman Powell as "unintelligent"
Uh-oh, it's time to sit tight and brace yourself for some fireworks!
The US Central Bank, also known as the Federal Reserve, concluded its recent meeting with a decision to maintain the interest rate status quo. But, it seems the announcement didn't go down too well with none other than our President, Donald Trump.
Chairman Jerome Powell declared in a press briefing that while uncertainty over economic growth has eased, it continues to loom large. He shed light on the Fed's expectations of a slower growth rate coupled with a rise in consumer prices due to Trump's trade policies. However, the full impact hasn't been felt by consumers yet, with Powell stressing that tariffs need time to filter through the supply chain to the end-user.
Unsatisfied with the Fed's reluctance to alter interest rates, Trump couldn't help but label Powell a "stupid person" for not heeding his demand for a rate cut. In classic Trump fashion, he reiterated his stance, saying, "We have no inflation, we only have success, and I'd like to see interest rates go down." He firmly believes that lower rates would ignite investments and propel economic growth.
Trump has been putting the pressure on Powell for quite a while now, even going as far as hinting at a potential firing if the Fed Chair fails to toe the line. This ongoing tension raises questions about the independence of the central bank, a principle upon which its operations are based.
Did someone say political drama? We're here for it.
- Donald Trump
- Interest Rate
- Jerome Powell
- Chair
- Federal Reserve
- Interest Rate
- US President
- US Central Bank
- Washington
Little Secret: Trump's stance towards Powell and the Federal Reserve's interest rate decisions is marked by criticism, hostility, and not-so-veiled threats. Trump's persistent calls for a rate cut have been met with resistance, with the Fed maintaining rates around 4.25% to 4.5%. Trump's public insults, questioning the independence of the central bank, and possible attempts to remove Powell highlight their stark disagreements on monetary policy.
Wanna Know More?: Trump's frustration over interest rates extends beyond just Powell, with him suggesting the Fed Board to override the chair. He has also called out the relatively high US interest rates compared to other countries.
- Despite the US Federal Reserve maintaining the interest rates unchanged, US President Donald Trump has criticized Federal Reserve Chair Jerome Powell, dubbing him "stupid" for not lowering the interest rates to stimulate investments and economic growth.
- The ongoing tension between Trump and Powell, with the President publicly questioning the independence of the Federal Reserve and hinting at potential confrontations, raises concerns about the principles upon which the central bank operates.
- The issue of interest rates, which has seen Trump call for a reduction, belongs to the broader categories of policy-and-legislation, politics, and general-news, making it a topic of significant public interest.
