$SOL #Solana Surge As the European Central Bank continues to cut interest rates, Federal Reserve Chairman Jerome Powell seems to be ignoring advice, and U.S. President Trump appears to be angry, calling out Powell three times in one day, demanding interest rate cuts, and even stating that Powell should have been fired long ago.
On the morning of the 17th, Thursday, Eastern Time, Trump posted on social media:
· The Federal Reserve Chairman Jerome Powell, who is always too late and wrong, released a report yesterday, which is yet another typical, complete "mess"!
· Powell should have lowered the interest rates long ago like the European Central Bank, but he definitely should lower them now. The sooner Powell leaves, the better!
During Thursday's afternoon trading session, Trump called out Powell twice more.
Trump said, I don't think Powell is doing his job well. If I demand it, he has to leave. Powell doesn't make me happy. He is always slow to act.
Trump accused Powell of manipulating politics, saying he is too terrible. U.S. interest rates have risen, and they should be lowered. Powell should cut interest rates. Trump also compared with Europe, stating that Europe is lowering rates.
A few minutes later, Trump again "attacked" Powell, saying the Federal Reserve should cut rates, which is owed to the American people. Powell will face substantial political pressure.
Trump said the only good thing Powell can do is to cut rates. If Europe lowers rates while the Federal Reserve remains indifferent, it will put the U.S. at a disadvantage. Costs are decreasing, and U.S. inflation is minimal.
Trump's remarks are clearly a response to Powell's hawkish statement from last night. On Wednesday of this week, Powell reiterated his comments from more than a week ago, stating that the Federal Reserve "can fully wait for (the situation) to become clearer before considering adjustments to our policy stance." Powell believes that tariffs and other policies from Trump create high uncertainty for the economy, and the Federal Reserve needs to avoid tariffs from persistently driving up inflation.
In fact, Trump has long been dissatisfied with Powell. Trump feels that Powell is "lagging behind" and "acting too slowly" in combating inflation. He has repeatedly urged interest rate cuts on social media, telling Powell to "act quickly."