US President Donald Trump has once again criticized Federal Reserve Chair Jerome Powell, claiming that his policies are worsening the economic situation in the country.
Trump on High Rates
Ahead of the Fed's interest rate announcement, Trump stated that Powell's refusal to cut rates is 'draining the economy.' He noted that 'borrowing has become too expensive' and accused Powell of costing the country 'a fortune.'
Fed Policy Under Fire
Trump emphasized that Powell's fear of inflation is unfounded, adding that high rates are 'costing the US hundreds of billions' in economic terms. He also touched on the issue that Powell 'just refuses to do what needs to be done.'
Possible Trump Appointment as Fed Chair
Trump made a remark that he could 'do a much better job running the Fed', hinting at a possible self-appointment after Powell's term ends in May 2026. However, Fed representatives continue to insist that their decisions are based on data, not politics.
Trump's criticism of Fed Chair Jerome Powell has raised questions about monetary policy and the economic strategy of the US, highlighting that the confrontation between politicians and economic institutions remains a relevant issue.
