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.”
Now it is convenient to hold the rate ?? I don’t think you had the same precaution before the election you were persuaded because you intend to announce the cut .
it’s hard to tell what you are trying to say. I’m guessing you are a Trump supporter that is trying to find something dis-honest in the Fed’s policy. You should do 2 things:
1) type your thoughts more clearly 2) take some time to understand what goes into these decisions. NOTE: 2 rate cuts came AFTER TRUMP was elected (Nov 7 & Dec 18). TRUMPS policies will lead to inflation (Tax cuts, deportation, tariffs). That is what the FED & everybody in finance believes.
Everything was fine before the 2020 Covid Election Fraud Scam. The pain and suffering inflicted on the American people by the last regime continues to fester. They now tell us their mess is too big to clean up and everyone will escape prosecution with pardons.
I am so sick of the fed reserve ruling our country and what we can and cannot afford. Fire all them and put someone younger who know what he’/she is doing. Instead we have this old man who listens to Biden and company along with the crazy Democrats.
Agreed. Get Him Out!
Do you want a very scary read? If you can find a copy of the book called the creature from Jekyll Island. Get it it is very hard to find because of I do believe some censorship that has gone on in this country over the years.
It is the story of how the federal reserve bank was created back in. I believe 1908 in a very subversive way on Jekyll Island, Georgia with all the power mongers of the country at that time. It is a total power grab.
You will come to know, and understand that the federal reserve bike is not of the federal government, is not of any reserves, and is not a bank
That entity is certainly responsible for a lot of control over the way we live our lives here in the wonderful United States of America
It’s a great book!! I had to do some research, but found it!
A must read!!!
If they never would have started messing with rates in 2000 our market would more stable in florida. SO hes is not entirely off base here. Now they are trying to clean up the mess they caused during covid.
The fed reserve is illegal.. point blank and needs to be eliminated…
Be careful what you ask for especially if you don’t understand or know what the end result will be.