President Donald Trump attacked Federal Reserve Chairman Jerome Powell on Thursday morning, claiming that he” may have lowered Interest Prices” and making hints about a looming “termination”
Powell argued at an event with the Economic Club of Chicago on Wednesday that” major policy changes” being pursued by the Trump administration may depart from the Fed’s objectives for the rest of the time. The leader criticized Powell on a Truth Social article less than 24 hours after the European Central Bank announced interest rate reductions.
” To Later” Jerome Powell of the Fed, who is always TOO Soon AND WRONG, yesterday released a report that was another, standard, full “messe!” The ECB is expected to cut interest rates for the seventh day. Oil prices are lower, as are groceries ( including eggs )! are lower, and the US is becoming wealthy on Taiwan. He may have done the same for the ECB and the ECB earlier, but interest charges should have been lowered much sooner. Powell’s cancellation is” don’t come quickly enough”! Trump tweeted.
Trump appointed Powell to lead the Fed during his first name in 2018, and Joe Biden, a former president, also appointed him to serve for another name in 2022. The president’s name is scheduled to run out in May 2026.
Powell defended his choice on Wednesday to no lower rates as a result of Trump’s trade policy uncertainty.
” My hope is that we’ll get through this and achieve the outcomes we’ve always wanted: maximum work and price stability. That is what we do. I do believe that we will be deviating from those objectives, perhaps for the rest of the time, or at least never making any progress. And finally, Powell said in Chicago, “we’ll begin that progress as much as we can.”
Trump’s quotes of$ 2 billion a day are significantly lower than a new report from the U.S. Customs and Border Protection, which put the entire revenue from taxes at$ 21 billion, or roughly$ 250 million per day.
Prior to now, the leader and Treasury Secretary Scott Bessent have stated that Powell may continue to serve the remainder of his name without interfering with their decisions. Trump stated to NBC News in December that he would not resign Powell from office before his term was up, immediately after Powell declared that such behavior would be against the law.
Bessent earlier this month told Bloomberg TV that he was not worried about Trump’s plan to remove Powell quick or doubt the Fed’s independence, and that it was a “jewel box that needs to be preserved.”
Trump has challenged the privileges of separate firms in the state since his second name began, despite Powell’s insistence that the president may remove him from the place before the end of his term.
POWELLELL, POWELL, AND TARIFFS LIKELY TO MOVE ECONOMY’AWAY FROM OUR GOALS’
In his first year in office, Trump fired Gwynne Wilcox, director of the National Labor Relations Board, an independent organization. The Merit Systems Protection Board’s Cathy Harris and her fellow employee, Cathy Harris, have filed legal challenges to the decision.
Chief Justice John Roberts authorized the layoffs to continue while the situation is being heard in court. If the authorities favor Trump, it might allow him to enact laws that would allow him to fire independent company officials.
