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

Haven of Mercy Provides a Holiday Home for Many

In the heart of Johnson City, Tennessee, a beacon of hope shines…

US Launches Strikes on ISIS in Nigeria Following Attacks on Christian Communities, Says Trump

WEST PALM BEACH, Fla. – On Thursday night, President Donald Trump announced…

Historic Myanmar Election: A Pivotal Challenge to Military Rule Amid Rising Criticism

BANGKOK – Myanmar is set to embark on the initial stage of…

Tragic Loss: Biker Community Grieves 21-Year-Old Victim of Fatal Rockledge Accident

ROCKLEDGE, Fla. – The community is mourning the untimely death of 21-year-old…

Suspects Apprehended: Tensions Rise as Christmas Tree Arson Shakes West Bank Church

Authorities in the Israeli-occupied West Bank city of Jenin have detained three…

Moscow Proposes Deal to Paris: The Fate of a French Citizen Imprisoned in Russia Hangs in the Balance

The Kremlin announced on Thursday that it is in discussions with French…

Zelenskyy Confirms Imminent Meeting with Trump: What It Means for Global Politics

In a hopeful turn for diplomatic relations, Ukrainian President Volodymyr Zelenskyy announced…

Tragic Christmas Morning House Fire Claims Two Lives, Leaves One Injured in SCSO Area

In a tragic incident on Christmas morning, two lives were lost in…

Tragic Merritt Island Christmas Eve Fire Claims One Life: Community in Mourning

MERRITT ISLAND, Fla. – This year, a somber Christmas has enveloped a…

Johnson City Churches Provide Students with Backpacks Filled with Essential Supplies

In a heartwarming display of community spirit, several churches in Johnson City,…

Yemen’s Separatists Claim Saudi Airstrikes Targeted Their Troops

DUBAI – On Friday, separatists in southern Yemen accused Saudi Arabia of…

Jair Bolsonaro’s Health Update: Former Brazilian President Successfully Undergoes Double Hernia Surgery

SAO PAULO – Jair Bolsonaro, the former President of Brazil, is undergoing…