US President Donald Trump released a furious truth against the chairman of the federal reserve Jerome Powell on Thursday and called him “too angry, too stupid and too political” after the central bank maintained interest rates stable.
Trump’s explosion came just one day after the Fed’s vote 9-2 to maintain the cost of loans at 4.25% -4.5%-the bottom of the direct meeting without cuts. The President accused Powell of standing “trillions” and killed the reconstruction of the Fed headquarters of $ 2.5 billion as potentially “corrupt”. This means Trump’s most serious attack so far in his year -round pressure campaign on Fed, because he had previously nicknamed Powell “too late” for resistance to cuts.
Why did the Fed hold firmly
Powell prevented the center of the decision and explained that the Fed needed more time to assess how Trump’s tariffs affect inflation before the reduction. “We are still far from seeing where things are settled,” he told reporters, noting that tariffs were pushing the prices of goods, even if the costs of services are cooled.
The Fed statement quoted “somewhat increased” inflation and “solid” work markets as reasons for patience. Surprisingly, two Governors Fedu-Christopher Waller and Michelle Bowman-Renovani Fedu Trump-Prolomili Rows to demand immediate cuts, the first dual disapproval of governors since 1993.
The headquarters project became Trump’s secondary weapon against Powell. Last week, Trump traveled on the Powell website and suggested that the cost be exceeded to be a “fire offense”.
Although Trump later described the shooting as “unlikely”, the director of the Russ budget accused the Fed of “spectacular” expenses in a letter of 17 July. Powell maintains crossing stems from an unexpected asbestos and inflation – not poor control.
Powell gently pushed back against Trump’s attacks by emphasizing the independence of the Fed “well served the public”, the argument of monetary policy must ignore policy.
(Tagstotranslate) Trump Powell Feud
