President Trump has intensified his longtime attack on the federal reserve, unleashed at the head of the country’s central bank, Jerome H. Powell, Thursday for not having done enough to strengthen the economy as the effects of the prices settle.
Trump has long sought to exercise control over the politically independent Fed, often denouncing Mr. Powell for maintaining the interest rates too high to his taste. In a position of social media early in the morning which turned around Washington, Wall Street and beyond, Mr. Trump said: “Powell’s termination cannot come quickly enough!”
Wednesday, Mr. Trump’s anger followed Mr. Powell’s comments when he warned in a speech that the president’s prices could create a “difficult scenario” by putting the two main objectives of the Fed – stable inflation and a healthy labor market – in tension.
Powell reiterated that the Fed could afford to be patient with its interest rate decisions until it has more clarity on Mr. Trump’s policies. The focus made by the Fed chair on the guarantee that a temporary increase in prices inflation has not become a more persistent problem suggested that the additional rate reduction bar was high.
The president pushed Mr. Powell to reduce rates since returning to the White House. The Fed dropped the rates in December and kept them stable for two consecutive meetings this year. The merchants are massively expecting the Fed to maintain the rates at his next meeting in early May.
Trump was referring to the European Central Bank on Thursday, which regularly reduced rates, suggesting that the Fed should do the same.
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