Summary
Donald Trump criticized the Federal Reserve and its chairman, Jerome Powell, after the central bank kept interest rates unchanged at 4.25%-4.5%.
Trump blamed the Fed for inflation and urged rate cuts to ease borrowing costs.
Powell defended the decision, citing economic uncertainty and reaffirming the Fed’s independence.
Trump’s economic plans, including tariffs and tax cuts, have raised inflation concerns.
Powell also addressed political pressure, including an order to cancel diversity programs and the Fed’s withdrawal from a climate-focused group, insisting decisions were not politically motivated.
JPow big dick energy
He had smol ppl energy in 2018 when he should have raised rates and caved to the orange man. Reinflated what was already an asset bubble that was shrinking, then Covid happened and he had to lower already low rates. JPOW caving to Trump is a huge part of the inflation we have now. I’m sure he’ll go out on his sword, but he should have done that in 2018.