Trump Describes Fed Chair Powell as Too Stupid
(MENAFN) US President Donald Trump intensified his attacks on Federal Reserve Chairman Jerome Powell on Thursday, labeling him "TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job" following the central bank’s recent choice to maintain current interest rates.
"Jerome 'Too Late' Powell has done it again!!!" Trump exclaimed on social media.
"He is costing our Country TRILLIONS OF DOLLARS," the president added.
Trump went on to describe Powell as "a total loser" and claimed the U.S. is suffering as a result of his actions.
This wave of criticism came after the Fed opted on Wednesday to leave the benchmark interest rate steady at 4.25%–4.50%, despite Trump’s pressure.
The central bank explained that the country’s economic growth had shown signs of slowing during the first half of the year.
During a press conference on Wednesday, Powell mentioned the Fed might retain the current policy stance while observing the effects of Trump’s heightened tariffs on inflation trends.
He emphasized that no firm conclusion had been reached regarding September’s meeting. "We don't do that in advance. We will be taking that information into consideration and all the other information we get."
Trump has persistently urged the Fed to reduce interest rates, pointing to actions by European Central Banks, and cautioned that hesitations could hinder the U.S. economy.
The president insisted the nation should “LOWER INTEREST RATES!”
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