Exciting Moments After US Inflation Data: Trump Threatens Lawsuit Against Jerome Powell! –Journalist Nicknamed FED Spokesperson Makes September Prediction: Decision Won't Change!
Tensions continue between US President Donald Trump and Fed Chair Jerome Powell over interest rates. Trump frequently insults Powell, accusing him of being late to cut interest rates.
Following the inflation figures announced hours ago, Trump made a new post on his Truth Social account and once again stated that Fed Chair Powell should lower interest rates.
As the feud between the two continues, Trump also announced that he is considering filing a lawsuit against Powell over the Fed building costs. At this point, Trump has stated that he is considering allowing a major lawsuit against Powell, accusing her of egregious mismanagement of the Fed building renovations.
The damage he has done because he is always too late is incalculable. Fortunately, the economy is so good that we have defeated Powell and his complacent Board. However, I am considering allowing a major lawsuit against Powell for his disastrous and utterly incompetent job in overseeing the construction of the Federal Reserve Building. He did a job that could have been done for $50 million, but for $3 billion.
As you may recall, Trump personally inspected the renovation and construction works that could be the subject of a lawsuit during his visit to the FED last month.
What Will the Fed Do in September?
Inflation data for July was released hours ago, and the data further increased expectations for a Fed rate cut in September.
Wall Street Journal reporter Nick Timiraos, known as the Fed spokesperson, made a statement after the data arrived, arguing that the Fed would likely not be able to make it through its September interest rate meeting without making a cut.
According to Timiraos, if inflation had been high today, the possibility of a September interest rate cut would have been off the table. However, while not saying there is no inflation, it's not at a level that would prevent a September rate cut.
