President Trump launched another attack on Federal Reserve Chairman Jerome Powell, expressing frustration over the Fed's reluctance to cut interest rates. He criticized Powell for his timing and suggested that the chairman's removal should happen swiftly. Trump's comments came as the European Central Bank prepared for additional rate cuts, contrasting with the Fed's cautious stance, influenced by the tariffs that could escalate inflation. Powell acknowledged that tariffs could lead to higher prices, reinforcing the Fed's decision to wait for clearer economic indicators before adjusting interest rates.
President Trump criticized Federal Reserve Chairman Jerome Powell for not cutting interest rates, claiming inflation concerns are exaggerated and urging for Powell's termination.
Powell explained that tariffs are pushing prices higher and slowing growth, and advised a cautious approach to rate cuts until more clarity is available.
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