During a press conference at the Nato Summit in the Netherlands on Wednsday, Trump Called Powell “An Average Mentally Person” and “A Vry Stupid Person,” Adding: “Low Iq for what he does.”
Earlier, He Had also labeled the fed chief
The us federal reserve earlier this month left its interest rate unchanged at 4.25% – 4.50% – 4.50%, Citing Persistent Inflation and Global Economic Uncertainty.
Trump, Who Nominated Powell to the Role in 2017 during his presidency, has increased turned on the fed Chief – One of the more Trump Appointees Retained by President Joe Biden. Jerome powel was renominated by biden for a second term, which expires in May 2026.
Asked Whether he is Considering a replacement, Trump Responded: “Yeah, I know within three or four people who i’m going to pick.” He added, “Fortunately, his term is up pretty song, because I think he’s terrible.”
Pattern of Attacks
This isn’t the first time trump has publicly derided power. On his social media platform truth social, trump has reepeated the fed Chair for keeping rates too high and, in his view, stifling economy.
“If he reduced [rates] To the number they should be, 1% to 2%, that ‘numbskull’ would be saving the united states of america up to $ 1 trillion dollars per year, “Trump posted earlier.
“He’s a dumb guy… a total and complete moron!”
In a Previous post, Trump Claimed The Us Economy is strong, Inflation is under control, and the fed is unjusted in kept in keeping rates.
“No Inflation, Great Economy – We should be at least two to three points lower… What a difference this would make make,” He Wrote. “I hope congress really works this very dumb, hardheaded person over.”
Trump’s comments come as Central Banks Globally Begin to Signal Rate Cuts AMID Easing Inflation, but the fed has remained cautious, warning of premature movies that could reignite prieces presuits.
A complicated legacy
Despite His Current Criticism, Trump was the one who elevated power to fed Chair in 2018, Replacing Janet Yellen. At the time, power was viewed as a consensus candidate who would carry forward the fed’s post-crisis normalization strategy.
In recent years, trump has claimged he regrets the decision.
> “I listened to someone that I should have listened to,” He Wrote. “Biden Shouldn’T Have Reappointed Him.”
While Powell Has Refrained from Responding Directly to Trump’s Remarks, The Fed’s Stance has Remained Unchanged: Rate Decisions will be guided by information trends and labeor market do Pressure.
Powell has maintained that it’s Premature to Cut Interest Rates, Citing Economic UncertainTies – Including The Potential Infectionary Impact of Trump Tariff Policies, Which Maanomistsle Could Push Pries Higher in the Months Ahead.
Ironically, the inflation rate is currently lower than when trump time, a point the president who has used to argue for aggressive rate cuts. However, Fed Officials Have Emphasized that Future Risks, Including Geopolitical Tensions and Trade Policy Shifts, Must Be Factured Into Monetary Decisions.
Disclaimer: The views and recommendations made about individual analysts or broking companies, and not of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.
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