Donald Trump continues his attack on Jerome Powell by criticizing him for failing to lower interest rates.
Trump called Powell a “fool” on Thursday using his Truth Social platform.
The Federal Open Market Committee announced the day before that they planned to keep the range of the Federal Funds Rate at 4,25-4%. They argued that this was the best level for achieving maximum employment while controlling inflation.
The uncertainty about the economy has increased. The Committee, which has a dual mandate, is aware of the dangers to each side and believes that both the unemployment rate and inflation rates have increased.
Since December when the Fed cut rates by 0.25 %, it has maintained interest rates at their current level.
Trump told reporters that speaking with Powell was “like talking into a wall” on Thursday.
The Bank of England reduced. China cut. Everyone but him is cutting. We’ll have to see. I think it’s unfortunate. It’s a shame. It’s absurd, and it’s sad… He’s always late. In this case it won’t matter as much, because we are so strong in economic terms and in what we have done.
Please follow us at X@InvCryptoDaily
Subscribe for email alerts to avoid missing a beat
___________________
___________________
Sources of Images include Pixabay Creative Commons & Midjourney
As new information becomes available, this post Jerome Powell, Fed chairperson and President Trump criticize each other after Fed rejects rate cut may be updated.
