President also referred to the last report of the Fed as a ‘complete disaster’; Republican argued that the United States are benefiting from the tariffs imposed by him
Donald Trump made harsh criticism to the president of the Federal Reserve, Jerome Powellcalling him “late and wrong.” The president has called for interest rates cuts, arguing that the United States are benefiting from imposed tariffs, although experts warn that this can result in an increase in prices for consumers. Trump also referred to the last report of the Fed as a “complete disaster.” Powell recently presented predictions that indicated an increase in inflation and suggested that the Fed could choose to maintain high interest rates to contain this inflationary pressure, even in the face of risks of economic recession.
This stance contrasts with Trump’s demand for a reduction in rates, similar to the approach adopted by the European Central Bank. Trump, who often criticizes Powell, did not make it clear whether his statements were related to the end of Powell’s mandate in 2026 or a possible removal before this time. The relationship between the two has been tense, with Trump seeking to influence the decisions of the Fed.
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In response to criticism, Powell reaffirmed on Thursday in Chicago that his commitment not to give in to political pressures, “people can say whatever they want … But we will do what we do strictly exempt from political considerations or other external factors.”
*Report produced with the aid of AI
Posted by Fernando Dias
Source: Jovempan
I have been working as a journalist for over 10 years. In that time, I have covered the news from all corners of the world, and written about everything from politics to business.I’m now a full-time author, and my work can be found at Global happenings. My aim is to bring you up-to-date news and views on global affairs, in a format that is easy to read and understand.
