President Donald Trump lashed out at Federal Reserve Chair Jerome Powell on Thursday after the central bank held interest rates steady at 4.25–4.5%, resisting Trump’s calls for cuts amid growing economic uncertainty from ongoing trade tensions.
“‘Too Late’ Jerome Powell is a FOOL, who doesn’t have a clue,” Trump wrote on Truth Social, adding sarcastically, “Other than that, I like him very much!” He claimed inflation is low and tariff revenue is strong, arguing the Fed should be cutting rates.
The Fed’s decision Wednesday marked its third consecutive hold, following rate cuts last fall. Powell said the central bank is in a position to “be patient” and monitor the impact of fiscal and trade policies, citing ongoing tariff uncertainty.
Trump has ramped up pressure on the Fed to reduce rates, claiming that doing so would spur economic growth. Although frustrations have mounted, the president recently denied plans to remove Powell from his post.
Source(s):
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
