The Fed made the announcement for the Thursday meet in a quick speech. According to the central bank, the two discussed “economic advancements, including those relating to rise, work, and prices.”
The declaration continued,” Chair Powell did not discuss his aspirations for economic policy, except to point out that the direction of the policy will totally depend on the impact of the coming economic data,” the statement continued.
Trump has been criticized for expressing doubts about the Fed’s ability to be impartial and awash in political elections, despite the fact that it has always been that way. Even though it is up for debate whether or not to fire Powell, he has also made up his mind.
Some members of the Trump administration have recently pushed Powell to lower interest rates to relieve credit problems and boost economic growth. The Fed has maintained rates over the past dozen meetings as it evaluated the impact of Trump’s tariffs on the market and the prices environment.
Powell spoke about the monetary policy committee’s purpose and its freedom from politics at the Thursday meeting.
Lastly, Chair Powell stated in the statement that he and his fellow members on the [ Federal Open Market Committee ] did set monetary policy to assist maximum employment and stable prices, and that they will only make those decisions based on a careful, achievement, and non-political analysis.
After the Fed opted to hold interest rates steady, Trump called” Too late” Powell a” FOOL, who doesn’t have a clue,” in a post on social media earlier this month.
” Other than that, I like him very little!” Oil and energy are drastically down, almost all costs ( including groceries and “eggs” ) are down, there is NO INFLATION, and there is only one way to get some more money for the U.S.:” TOO LATE!” ENJOY”! Trump asserted.
The Federal Housing Finance Agency’s producer, Bill Pulte, has also urged the Fed to begin cutting interest rates. Cover affordability may increase if a price cut also reduced mortgage rates.
” Jay Powell needs to lower interest costs – enough is enough,” Pulte said on X. There is no purpose not to lower levels, according to President Trump, who has “celebrated Biden’s prices.” If Chairman Powell did this, the cover market would be in much better condition.
Powell was well-known for supporting the Fed’s freedom during Trump’s first word, which helped him win some Democrats ‘ help. Trump was critical of the Fed policy during his first name and attacked the northern bank for raising interest rates very quickly.
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Trump infamously stated in a letter in which case,” the only thing I’m asking is, who is our biggest enemy, Powell or Xi Jinping, or who?
Powell has constantly stated that he doesn’t think Trump had the power to sack him.
