President Trump on Monday pressured Federal Reserve Chairman Jerome Powell to lower interest rates, calling him a “major loser,” suggesting that previous rate cuts aimed at supporting former President Biden.
“Many people are looking to “preemptively reduce interest rates.” There’s virtually no inflation as energy costs drop, food prices (including Biden’s egg disaster!) are significantly lower, and most other “things” are falling,” Trump wrote. The true society.
“These costs are dropping so well, so there’s little inflation just what I predicted they’d do, but there’s a slowdown in the economy unless we’re too late, major losers, lowering interest rates,” the president continued.
“Europe has already dropped seven times. Powell was always “late,” but how did that work, except for the election period he lowered to help the sleepy Joe Biden, who Kamala was later elected? ” he added.
The president is increasingly urging Powell to cut interest rates, but the Fed chair has warned that Trump’s tariffs could cause economic growth while inflation is rising.
Trump said last week he could not wait for a “dismissal” of the Fed chair, claiming that if he tried to fire him, Powell would leave.
Kevin Hassett, chairman of the White House National Economic Council, said Friday that the White House is looking for ways to fire Powell despite the legal guardrail being set up.
The 90-year-old Supreme Court precedent is likely to protect Powell from being fired by the president for anything other than fraud or strict neglect of duties. Powell repeatedly argued that he would not be able to be legally fired and would refuse to leave until the end of his term, which ends in 2026.
