๐จ Trump attacks Powell again... with no intention to fire!
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๐ฃ๏ธ The new statement:
โ President Trump said he does not plan to fire Federal Reserve Chairman Jerome Powell
โ However, he described him as a "failed Federal Reserve Chairman," criticizing the rising interest rates and the excessive spending of the central bank
โ He added: "I think he is costing the country a lot of money... we should have been at the forefront, but we are not because of Powell"
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๐ Background of the tension:
โ Trump has repeatedly criticized Powell for refusing to lower interest rates despite the decline in inflation
โ He previously referred to him as "Mr. Too Late" and "a nobody with no personality"
โ Nevertheless, he said: "I will not fire him... unless he is proven to be involved in financial fraud" referring to the renovation project of the Federal Reserve headquarters that exceeded its original budget
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๐ก Why does it matter?
โ It shows the ongoing tension between the White House and the Federal Reserve regarding monetary policy
โ It raises questions about the independence of the central bank under political pressures
โ It may impact market expectations regarding interest rate cuts in September
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โDo you think these statements will confuse the markets or pave the way for a change in Federal Reserve leadership?
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