President Donald Trump has expressed his dissatisfaction with Federal Reserve Chair Jerome Powell while announcing a new tariff threshold on imports.
Fed Criticism
During a speech at the White House, Trump openly criticized Powell. In a post on Truth Social, he stated: "‘Too Late’ Jerome Powell is a FOOL, who doesn’t have a clue. Other than that, I like him very much!" This criticism came just after the Fed announced it would keep interest rates unchanged.
New Tariff Policy
Trump also confirmed the introduction of a new 10% baseline tariff on imports. He emphasized that this rate would be the minimum for countries seeking trade agreements with the US. The president added, "Some will be much higher because they have massive trade surpluses and in many cases, they didn’t treat us right."
Reactions and Comments
UK Prime Minister Keir Starmer, who is involved in negotiations regarding the deal, stated, "We’ve built an incredible platform for the future." However, experts have pointed out that the deal is limited in scope and will not easily scale to other countries with larger trade imbalances.
Thus, Trump continues to criticize the Fed's policies while demonstrating a desire to change trade relations with other countries, with experts reacting cautiously to the new tariffs.
