The Wall Street Journal has come to the defense of Federal Reserve Chairman Jerome Powell amid President Trump's public criticism of Powell's refusal to lower interest rates. Trump has been frustrated with Powell's comments linking his trade policies, especially tarifs, to economic instability, a point the Journal supports. They argue that tariffs act as a tax, raising consumer prices and complicating the Fed's ability to maintain low unemployment with stable prices. The editorial suggests that Trump's approach could lead to legal challenges and further market turmoil, advocating for a reevaluation of his tariff policy to stimulate economic growth.
Federal Reserve Chairman Jerome Powell's insistence on maintaining stable prices complicates President Trump's tariff policies, which have resulted in increased market volatility and economic slowdown.
The Wall Street Journal defended Powell against Trump's criticisms and highlighted the detrimental impact of tariffs as a tax that raises costs for consumers.
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