#TrumpVsPowell Donald Trump, during his presidency, often criticized Jerome Powell, the Federal Reserve Chair, especially for not lowering interest rates fast enough to stimulate the economy. Trump appointed Powell in 2017 but quickly became frustrated when Powell didn’t act like the “low interest rate guy” Trump had hoped for.
Key points in the Trump vs. Powell saga:
2018-2020: Trump publicly blasted Powell on Twitter, calling the Fed “crazy” and “a bigger enemy than China” at one point.
Rate Disagreements: Trump wanted near-zero or even negative rates to boost growth and the stock market; Powell remained more cautious, citing inflation risks and economic fundamentals.
Independence of the Fed: Powell maintained the Fed’s independence, resisting political pressure — something that actually gained him respect among economists and central bankers.