Trump fumes at Powell, urging Federal Reserve board takeover
Share this @internewscast.com


President Trump on Friday morning fumed at Federal Reserve Chair Jerome Powell, urging the central bank board to wrest control from him after opting again to not lower interest rates this week.

“Jerome ‘Too Late’ Powell, a stubborn MORON, must substantially lower interest rates, NOW. IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!” the president said on Truth Social.

He later added, “STRONG DISSENTS ON FED BOARD. IT WILL ONLY GET STRONGER! ‘TOO LATE!’”

The president was referring to a vote by the Fed on Wednesday that kept short-term interest rates at a level of 4.25 percent to 4.5 percent but it included the first double dissent from Fed board officials in more than 30 years.

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 against keeping interest rates as is.

The president later on Friday morning continued to rage about the central bank’s decision as he has done in the past few months.

“Too Little, Too Late. Jerome ‘Too Late’ Powell is a disaster. DROP THE RATE! The good news is that Tariffs are bringing Billions of Dollars into the USA!” Trump said on Truth Social.

Some bad news on the economy for Trump also dropped Friday morning with the July jobs report  showing the labor market stalling. The U.S. added only 73,000 jobs in July and the unemployment rate stayed flat at 4.2 percent, according to data released Friday by the Labor Department.

The data also included staggering revisions for the months of May and June that showed about 250,000 fewer jobs were added to the non-farm sectors during those two months.

Trump has been lobbing criticisms at Powell for months over the Fed decision to keep interest rates as is, which Powell largely attributes to economic uncertainty in part due to Trump’s tariffs policy.

Trump last week had a fairly cordial meeting with Powell at the Federal Reserve headquarters to review the building’s ongoing renovation. He appeared to pressure off the idea of firing Powell but those tensions have since renewed after this week’s economic news. 

Share this @internewscast.com
You May Also Like

Reports Reveal Ozzy Osbourne’s Cause of Death

(NEXSTAR) — London’s authorities have disclosed the reason behind the death of…

Top Tips for Sun Safety: Protecting Yourself Effectively

SAVANNAH, Ga. () — With the arrival of summer, spending more time…

Trump Considers Imposing Pharmaceutical Tariffs Up to 250%

(The Hill) – President Trump on Tuesday threatened to impose tariffs of…

No Indictment for Former Atlanta Officer in Deacon’s Death, Rules Grand Jury

ATLANTA (AP) — On Monday, a grand jury chose not to indict…

California Probes Rise in Flea-Borne Typhus Cases

Health officials in Long Beach are urging residents to take steps to…

House Republicans Issue Subpoenas to DOJ and Clintons in Epstein Investigation

House Oversight and Government Reform Committee Chair James Comer (R-Ky.) has issued…

Ex-Cocke County School Resource Officer Charged with Timesheet Fraud

NEWPORT, Tenn. (WATE) — A former school resource officer with the Cocke…

Trump Makes a Surprise Visit to the White House Roof to Review New Projects

WASHINGTON (AP) President Donald Trump’s day began typically enough, with a television…

Midway Fire Department Resumes Operations After Extended Suspension

MIDWAY, Ga. () — After months of uncertainty, Midway has an operational…

Report Claims Titan Submersible Tragedy Could Have Been Averted

The implosion of a submersible resulting in the loss of five lives…

20-Year Sentence for Urbana Man Involved in Last Year’s Robbery and Shooting in Champaign

URBANA, Ill. (WCIA) — An Urbana man was sentenced to 20 years…

Stalker of Post Malone Arrested for Ignoring Court Protection Order

COTTONWOOD HEIGHTS, Utah (KTVX) A woman with a history of stalking Post…