President Trump expressed anger towards Federal Reserve Chairman Jerome Powell after Powell resisted pressure to lower interest rates. Following a meeting of the Federal Open Market Committee where no rate cut was announced, Trump criticized Powell on Truth Social, declaring him a 'FOOL.' Powell, when addressing the press, noted the potential negative effects of tariffs on inflation and unemployment, distancing the Federal Reserve's decisions from Trump's demands. His remarks emphasized uncertainty about the tariffs' impact on economic goals.
Powell announced there would be no rate cut after a Federal Open Market Committee meeting Wednesday, which led to Trump's continued backlash against him.
In a Truth Social post, Trump labeled Powell a "FOOL" for not adhering to his demands, despite his frustrations voiced in previous weeks.
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