đ¨đ¨ #TRUMP đ¨đ¨
đ¨ HUGE: Trump Ramps Up Attacks on Fed Chair Jerome Powell
In a fiery post just minutes ago, Donald Trump slammed Federal Reserve Chair Jerome Powellâagainâcalling him âToo Late Jeromeâ and saying âPowellâs termination cannot come fast enough.â Here's whatâs going on:
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đ Why Trumpâs Fuming:
Interest Rates Drama: The European Central Bank is gearing up for its 7th rate cut, while the Fed hasn't budged. Trumpâs furious Powell hasnât followed suit.
Blames Powell for Delay: Trump says Powell is âalways too late and wrongâ and is missing the momentâespecially with oil prices down, groceries cheaper, and the economy getting a boost from tariffs.
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𧨠What Trump Wants:
Immediate Rate Cuts: Heâs pushing hard for the Fed to slash interest rates right nowâand blames Powell for holding the economy back.
Leadership Change: Trump didnât hold backâhe wants Powell gone, suggesting he shouldâve been replaced âlong ago.â
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âď¸ Can He Actually Fire Powell?
Short Answer: No. Presidents canât fire the Fed Chair just for policy differences. Powellâs term runs until May 2026, and heâs made it clear he wonât resign.
Powell responded in a past interview with a firm: âNoâ when asked if heâd step down under pressure.
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đ Why It Matters:
Market Volatility Ahead? This back-and-forth could shake investor confidence, especially if the Fedâs independence is called into question.
Inflation Watch: Powellâs also warned that Trumpâs proposed tariffs could push inflation higherânot exactly the environment to cut rates in.
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đŽ Looking Forward:
If Trump wins back the White House, one thingâs for sure: Powellâs not getting reappointed. The future of the Fed could look very different under a second Trump term.