Trump's Rates Rant: A Presidential Push on Powell and the Fed's Decisions
U.S. President Donald Trump declared he would not dismiss Federal Reserve Chair Jerome Powell despite their differences over interest rate policy. Trump criticized Powell's reluctance to lower rates and expressed discontent over escalating oil prices. Still, he maintained his decision not to remove Powell from his position.
In a statement from the White House on Thursday, U.S. President Donald Trump made it clear that Federal Reserve Chair Jerome Powell's job was safe, despite his frequent criticisms of Powell's approach to interest rates. Trump expressed his frustration, pushing for lower rates to benefit financing ventures.
Despite calling Powell a 'numbskull,' Trump reiterated his decision not to fire the Fed chair, emphasizing that a change in leadership would not be imminent. Trump's remarks were part of a broader agenda to influence the central banking decisions in ways he believes would better support his economic plans.
The president also took the opportunity to voice his displeasure over rising oil prices, suggesting his focus spans multiple financial arenas. Nonetheless, Trump's overall stance appeared to oscillate between critique and reluctant acceptance of current monetary policies under Powell's leadership.
(With inputs from agencies.)
Google News