Trump derides Powell as a fool following yet another increase in interest rates.
**"Hey there! Let's dive into the latest drama unfolding between the White House and the Federal Reserve. After the Fed's recent decision to maintain interest rates, Donald Trump, our one-of-a-kind president, took to Twitter to call Fed Chair Jerome Powell an "idiot" and accused him of being clueless. However, Trump seems to have a soft spot for Powell, adding, 'Other than that, I like him very much!'
According to Trump, the Fed needs to lower rates due to falling energy costs and his successful trade policy. Policies Trump loves to take credit for, might I add. Powell, in his usual composed manner, rebuffed Trump's influence on the Fed's work, saying they're in no hurry and in a good position to be patient.
Coincidentally, in a unanimous decision, the Fed kept interest rates in the range of 4.25 to 4.50 percent. It's like the Fed was saying, 'Thanks for the advice, Donald, but we've got this.' So, there you have it. A modern-day soap opera unfolding right before our eyes.
Fun fact, the Fed's job is to achieve maximum employment and keep inflation at a rate of 2% over the longer run. They make decisions based on economic indicators, not political pressures. So, even though Trump's been talking tough, the Fed's not likely to make any moves based on political pressure."
(Sources: Reuters, Enrichment data provided for contextual clarity.)
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- The ongoing tension between the White House and the Federal Reserve continued, with President Trump publicly criticizing Fed Chair Jerome Powell for maintaining interest rates, but admitting a personal liking for him.
- Despite Trump's push for lower rates, citing falling energy costs and successful trade policy, the Fed kept rates in the range of 4.25 to 4.50 percent, indicating a pause in further adjustments and a preference for patience.
- Meantime, financial analysts were discussing the implications of rising insolvencies in various sectors, especially in the context of global war-and-conflicts and their impact on general news and crime-and-justice related issues.
- In the world of business, renowned investor Warren Buffet shared his favorable investment picks in Japan, offering insights for enthusiasts keen on studying his strategies.
- Elsewhere, the Dax index climbed to a record high following the U.S.'s first trade pact, capturing the attention of stock market enthusiasts who were eager to explore more about this development.
