#TrumpVsPowell
Trump Amps Up Feud With Fed Over Rates Accuses Powell of Playing Politics
US President Donald Trump escalated his criticism of Federal Reserve Chair Jerome Powell on Thursday accusing him of playing politics by not cutting interest rates Trump claimed he could remove Powell real fast if he wanted and said Powells termination cannot come fast enough Trump argued the Fed should lower rates like Europe and called Powells recent economic speech a complete mess.
Trump emphasized high mortgage and consumer credit rates blaming the Fed for not providing relief as inflation risks rise due to his tariff plans The Fed really owes it to the American people to get interest rates down Trump stated adding Im not happy with him.
Reports suggest Trump has privately discussed firing Powell for months and considered replacing him with former Fed Governor Kevin Warsh though Warsh advised against it The legality of removing Powell remains unclear as Fed chairs are Senate confirmed and independent.
Investors worry, Trumps actions could undermine Fed credibility with online betting markets now giving a oneinfour chance Powell leaves by years end Treasury Secretary Scott Bessent reportedly warned the White House against firing Powell fearing market turmoil.
The stakes are high as Trumps tariff plans and Fed policy clash potentially impacting global markets and the US economy.
