Why does Trump criticize Powell so much?
This is part of a political game, where Trump seems to be the good guy and the Fed chairman is blamed for the slowdown of the economy. Yes, inflation has been decreasing, but interest rates have helped. Trump knows this but loves to put on a show to deflect blame.
Trump's Period as President (2017-2021):
Trump appointed Jerome Powell to head the Fed in 2018, but later criticized him strongly for not cutting interest rates enough.
Trump wanted low interest rates to stimulate the economy and the stock market, while the Fed (under Powell) maintained a more independent stance.
In 2019, Trump even said that the Fed was the "real enemy" of the economy.
2024 Elections and Current Situation:
Trump had already declared that, if elected, he would not reappoint Powell (whose term at the Fed goes until 2026).
He criticizes the Fed for keeping interest rates high for too long, which he claims harms the economy.
Powell, in turn, maintains a technically neutral stance, avoiding political comments and focusing on controlling inflation.
