Trump blasts Powell after Fed votes to keep interest rates steady
Share this @internewscast.com


(The Hill) – President Trump on Thursday blasted Federal Reserve Chair Jerome Powell, lodging insults at the head of the central bank for opting again to not lower interest rates.

“Jerome ‘Too Late’ Powell has done it again!!! He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair,” Trump wrote in a post on Truth Social.

“He is costing our Country TRILLIONS OF DOLLARS, in addition to one of the most incompetent, or corrupt, renovations of a building(s) in the history of construction! Put another way, ‘Too Late’ is a TOTAL LOSER, and our Country is paying the price!” the president added.

The nation’s central bank on Wednesday kept short-term interest rates at a level of 4.25 percent to 4.5 percent. The vote saw the first double dissent from Fed board officials in more than 30 years when Vice Chair of Supervision Michelle Bowman and board Gov. Christopher Waller — who are both in the running for Trump’s nomination to replace Powell when his term is up in May voted to lower them.

Trump’s insults on Thursday come after a fairly cordial meeting he had with Powell at the Federal Reserve headquarters last week to review the building’s renovation.

The Fed chair on Wednesday spoke highly of Trump’s visit, saying it was an “honor” to host the president and just after the visit, Trump said there was no tension between him and the chair.

The president predicted the Fed “probably won’t” lower rates earlier Wednesday, adding at the time, “I hear they’re going to do it in September, not today. For what reason? Nobody knows.”

He also said that there’s “a lot of money coming in” and “no inflation” so rates should be lower.

The latest rate announcement came just days before Trump’s Aug. 1 tariff deadline. Powell has credited uncertainty around the president’s trade agenda and the volatility of markets as a reason to hold interest rates steady.

Share this @internewscast.com
You May Also Like

Infant Discovered in Texas Dumpster; Mother Detained: Report

Graphic Warning: This story contains graphic images or video that may be…

Comey Claims Innocence Post-Indictment: ‘I Have No Fear’

WASHINGTON (The Hill) — Former FBI Director James Comey expressed deep sadness…

Trump Addresses Indictments Following Comey Investigation

IE 11 is not supported. For an optimal experience visit our site…

Trump Announces New Tariffs on Semi-Trucks, Pharmaceuticals, and Kitchen Cabinets

President Donald Trump on Thursday revealed a fresh set of severe tariffs,…

LIVE STREAM: Trooper Steve Prepares to Participate in the Red Bull Tandem Rollercoaster Challenge

ALTAMONTE SPRINGS, Fla. – The Red Bull Tandem Rollercoaster event is set…

Hong Kong Legislators Approve Ban on Low-Quality Micro Apartments

HONG KONG – Hong Kong legislators approved a bill on Friday that…

Ongoing Search for Nancy Tucker Marks One Year Since Helene’s Disappearance

WASHINGTON COUNTY, Tenn. (WJHL) — Almost a year after Hurricane Helene, the…

Former FBI Director James Comey Charged with Federal Obstruction and Perjury

A federal grand jury has charged former FBI Director James Comey, with…

One Year After Hurricane Helene: A Civilian Rescuer Looks Back

CRYSTAL RIVER, Fla. (WFLA) — Friday marks one year since Hurricane Helene…

Complaints Surface Over Inhumane Conditions at Chicago Area Immigration Center Amid Trump’s Crackdown

CHICAGO – A vacant building in a small suburb of Chicago has…

Israeli PM Reports Using Phones in Gaza to Broadcast Speech

IE 11 is not supported. For an optimal experience visit our site…

Ex-Spartanburg County Sheriff and Two Others Set to Plead Guilty to Federal Charges

In Spartanburg, S.C., former County Sheriff Chuck Wright and two others have…