President Trump and Federal Reserve Chairman Jerome Powell talked past each other this morning, with the president demanding interest rate cuts in the wake of a vibrant economy while the central bank leader warned the economy was in danger of fraying following the new round of Trump tariffs.
Trump took to his Truth Social site with a direct message to Powell that stated: This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always “late,” but he could now change his image, and quickly. Energy prices are down, Interest Rates are down, Inflation is down, even Eggs are down 69%, and Jobs are UP, all within two months – A BIG WIN for America. CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!”
For his part, Powell used a speech before a business journalists conference to declare the economy could experience higher prices and weaker growth because the new round of Trump tariffs was greater than anticipated.
“While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects could be more persistent,” Powell said. “While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects could be more persistent. Avoiding that outcome would depend on keeping longer-term inflation expectations well anchored, on the size of the effects, and on how long it takes for them to pass through fully to prices. Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem.”
Powell made no commitment to potential rate cuts, which will be decided when the central bank’s policy making Federal Open Market Committee conducts its next meeting from May 6-7.
“It is too soon to say what will be the appropriate path for monetary policy,” Powell said.
Everything Trump wrote on “Truth” Social is a lie. Egg prices are not down. Tariffs are leading to job loss. Stock market is tanking. Not sure where he is, but he is living in an alternative place. But, being a billionaire I am sure none of this is affecting he and his friends. However, it is affecting me badly. Of course he does not know what the word groceries is. Perhaps that is because he has never had to worry about food, And, does not know where to find it!
Amen Jane Mc-Combs-Beaman!
The Country voted and the result was clear and overwhelming.
Sadly democrats are having a hard time accepting the results of a free and fair election. They are doing everything they can to sabotage and deny the choice the American Tax Payers made. Hoping the economy will fail just because you lost is not healthy.
Give Democracy a chance.
You are in a CULT , repeating the same “lies & talking points”. YES- the country voted, and Trump is president. The FED already cut rates 3 times last year, TWICE after Trump was elected. Trumps radical, grievance, false flag economic policies are causing rates to stay high. You don’t even know how mortgage interest rates are set! Now, TRUMP lies by accusing Powell of playing politics, and Cult-members like you repeat Trumps lies. The only way to support a liar is to become one yourself. The ONLY person playing politics is TRUMP.
If I’m not mistaken Donald Trump was the one who had a hard time accepting a free and fair election four years ago. By the way, if we actually lived in a democracy Hillary Clinton would have been the president not Donald Trump. We live in a republic and as a lifelong Democrat I have supported that Republic and the office of the Presidency my entire life. However; that does not mean I agree with or support everything this president does. Please stop slandering almost half of the people in the United States over a difference of opinion. we are no doubt your friends neighbors and family members as well.
Democrats need to sit down, shut up and stop asaulting children. You people killed millions worldwide with your covid hoax, mask and vaccine mandates and America voted to stop the Democrat party cold. The Democrat party is a violent, Marxist, pedophilic cult. Every Democrat needs to be prosecuted for crimes against humanity, pedophilia and treason. If you are still against Trump you are against America and need to leave. I don’t want any Democrats near my family. All Democrats should be moved to NY and CA to keep Americans safe from their hate and violence. It’s 1865 again and the Democrat party needs to be crushed. Trump needs to designate the Democrat party a terrorist organization.