President Trump openly expressed his displeasure with Federal Reserve Chair Jerome Powell, arguing that the Fed should lower interest rates. During a speech at the White House, Trump acknowledged slight decreases in mortgage rates but criticized Powell for his previous decisions. Trump, who nominated Powell in 2017, has since turned against him, blaming Powell for hindering economic growth and the stock market by maintaining higher rates. He specifically took issue with Powell's stance on Trump's tariffs potentially leading to inflation and economic downturn.
Mortgage rates are actually down slightly, even though I have a guy in the Fed that I'm not a huge fan of. But that's all right, these are minor details. Don't tell him I said that, please.
He should reduce the interest rates. I think I understand interest a lot better than him because I've had to really use interest rates. We should have interest rates go down.
In April 2019, Trump wrote on X, then known as Twitter, that Powell was holding back the US stock market by not cutting interest rates.
Powell's termination cannot come fast enough after he said Trump's sweeping tariffs on the world could result in higher inflation and weaker economic growth.
Collection
[
|
...
]