President Donald Trump signed up on Monday to the president of the Federal Reserve, Jerome Powell, abruptly criticizing the management of interest rates and suggestions of the head of the Central Bank and political suggestions may be at stake.
In a publication about Truth Social, Trump said the “preventive” interest cuts are now being “called to many” and Powell failed that the usual act too slowly. “It has always arrived too late,” the president wrote, adding that Powell is a “great loser” whose decisions seem motivated policies.
The public reprimand follows Powell’s comments last week, in which the president of the Fed raised the possibility of future rate increases, citing the vote inflation risks of the newly implemented tariffs of Trump. Powell warned that tariffs could lead to both greater job and greater inflation, counting an audience, “we can find ourselves on the challenging stage in which the double goal objectives are in tension.”
“Powell has always been ‘late’, except when it came to the election period when he went down to help Sleepy Joe Biden, later Kamala, be chosen. How did that work?” Trump said in his position.
Trump’s advisors dismissed Powell’s warning as more evidence of what they see how the Fed president’s bias against the administration’s economic agenda. On Sunday, the Economic Advisor of the White House, Kevin Hassett, confirmed that the president is actively considering options to eliminate Powell from his post.
Powell has previously said that he does not believe that the president has the legal authority to fire him, and that would not voluntarily resign if he was asked.
