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🇺🇸 President Trump says tariffs have had "ZERO" impact on inflation.
Powell "has been whining like a baby about non-existent inflation for months…CUT INTEREST RATES JEROME."
- The post reflects President Trump's claim that tariffs, reintroduced with a 10% universal rate in April 2025 and paused for 90 days (ending today, July 9, 2025), have not increased U.S. inflation, contradicting Federal Reserve Chair Jerome Powell's concerns, who cited a potential inflationary spike based on economic models from the JPMorganChase Institute estimating $82.3 billion in added costs for mid-sized businesses.
- Powell's hesitation to cut interest rates, as criticized by Trump, aligns with a 2025 study from the National Bureau of Economic Research showing tariffs can raise consumer prices by 1.4% within six months, supporting his cautious stance amid unresolved trade negotiations with countries like China and Thailand facing 20% and 36% tariffs, respectively.
- Trump's attack on Powell, calling for rate cuts despite stable inflation data (e.g., 2.5% CPI in June 2025 per Bureau of Labor Statistics), highlights a policy rift, with historical data from the 1930 Smoot-Hawley Tariff Act showing tariffs can disrupt trade without guaranteed economic growth, challenging Trump's narrative.