Cnn
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President Donald Trump said on Wednesday that the president of the federal reserve Jerome Powell had maintained the too high interest rates and that he could call the head of the central bank.
“I did not call it. I could call it,” said Trump at a signature action ceremony for oval office executives on Wednesday evening. “I think it makes a mistake by not reducing interest rates, and I think that, as we do, we could do much better.”
Trump publicly attacked Powell in recent days, calling the president of the Fed “a major loser” whose “end cannot come early enough”. Trump appointed Powell to his role in 2017, but has since publicly simulated with him. But he softened his position on Tuesday, saying that he had “no intention” to dismiss Powell after the advisers warned Trump that the implementation of the Central Bank chief would turn legally and economically, said familiar sources with the case at CNN.
But Trump renewed his line of attack on Powell on Wednesday, accusing him of doing politics with interest rate reductions.
“He maintains too high rates,” said Trump, as he criticized Powell for acting too slowly to increase rates several years ago at the start of the inflation crisis. “It was historically late … It was recommended by a certain person of whom I am not particularly satisfied.”
Trump and other White House officials suggested that Fed’s action to reduce rates in the late stadiums of the Biden administration – but not (yet) under Trump – could be political. There is no evidence that the independent Fed adopts a political position, and Powell vehemently denied the suggestions that the Fed plays politics when he took monetary political decision -making.
Powell has repeatedly said that the Fed would only take the decision to increase or reduce prices after a careful examination and will not precipitate a decision or will not publish a drop in emergency rate before the next meeting of the rate committee in May.
“He hope to do the right thing – the right thing is to reduce interest rates, so we’ll see what’s going on,” said Trump. “I think we are sitting on something that will be very good with all the price money that is starting to enter. Our country will go very well, and I hope it will be, you know, we have no inflation.”
This story has been updated.
