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President Trump resumed his public dissatisfaction with Federal Reserve Chairman Jerome Powell after yesterday’s decision by the central bank not to lower the federal funds rate.

In a posting on Truth Social, Trump declared, “Because Jay Powell and the Fed failed to stop the problem they created with Inflation, I will do it by unleashing American Energy production, slashing Regulation, rebalancing International Trade, and reigniting American Manufacturing, but I will do much more than stopping Inflation, I will make our Country financially, and otherwise, powerful again!”

Trump added, “The Fed has done a terrible job on Bank Regulation. Treasury is going to lead the effort to cut unnecessary Regulation, and will unleash lending for all American people and businesses. If the Fed had spent less time on DEI, gender ideology, “green” energy, and fake climate change, Inflation would never have been a problem. Instead, we suffered from the worst Inflation in the History of our Country!”

Trump named Powell as the Fed chairman in 2018 but soon became unhappy with his leadership of the central bank. Powell was reappointed in 2022 by President Biden.

For his part, Powell opted not to acknowledge Trump’s comments. At a press conference following the Fed’s rate policy update, Powell stated, ““I’m not going to have any response or comment whatsoever to what the president said. It’s not appropriate for me to do so.”

Powell add that because interest rates were now “significantly less restrictive” than they were prior to last year’s rate cuts, “we do not need to be in a hurry to adjust our policy stance.”