President Donald Trump continues his breadth against Jerome Powell and criticizes the chairman of the Federal Reserve for not reducing interest rates.
On Thursday Trump went to his social media platform, Truth Social, to name Powell ‘a fool’ who has ‘no idea’.
The day before, the Federal Open Market Committee (FOMC) announced that it was planning to maintain the target range for the federal fund percentage at 4.25-4.5%, with the argument that this was the most suitable level to achieve both maximum employment and controlled inflation.
“The uncertainty about the economic prospects has increased further. The committee is attentive to the risks for both sides of its double mandate and judges that the risks of higher unemployment and higher inflation have risen.”
The FED has kept the interest rates stable since December if it reduced the rate by 0.25%.
While he spoke to reporters on Thursday, Trump complained that talking to Powell ‘when talking to a wall’ is.
“The Bank of England has cut. China cuts. Everyone cuts him. I don’t know, we’ll see what’s happening. It’s a shame. I call him ‘too late’. Too late Powell, that’s his nickname. And it’s a shame, it’s ridiculous … he’s always too late.
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