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

Conflicting Narratives: Trump Officials Offer Diverging Views on U.S. Mission in Iran

Iran’s nuclear ambitions, its missile programs, its network of proxies, and the…

Honduras Considers Diplomatic Pivot from Taiwan to China Amid US Influence Efforts in Latin America

WASHINGTON – Three years after severing ties with Taiwan to embrace diplomatic…

Alumni Hall Gears Up Bucs Fans for the Ultimate SoCon Championship Experience

JOHNSON CITY, Tenn. — Excitement is brewing among Buccaneer fans as both…

Escalating Tensions: Iran Targets Israel and US Bases Amid Intensified Strikes on Lebanon

As the conflict in the Middle East enters its sixth day, Iran…

Tennessee Legislation Challenges CVS in Pharmacy Benefit Manager Dispute

A proposed piece of legislation currently under discussion in the Tennessee legislature…

Washington County Commission Approves Resolution Seeking Amendment on Population Count

In a recent meeting, the Washington County Commission in Tennessee took a…

Stable US Job Market: Weekly Jobless Claims Steady at 213,000 Amid Low Layoff Rates

WASHINGTON – The number of Americans seeking unemployment benefits held steady last…

US Postal Service Faces Financial Crisis: Congressional Intervention Needed to Avoid Cash Shortage by 2024

The U.S. Postal Service (USPS) is on the brink of a financial…

Rising Florida Gas Prices Driven by Middle East Tensions and Seasonal Trends

In a surprising turn for many motorists across Florida, fuel prices at…