‘To Late’: Donald Trump slammed Jerome Powell, called him one of the ‘dumbstand and the most destructive’; Head of accused US Arabs cost
US President Donald Trump once again slammed the President of the Federal Reserve, Jerome Powell, alleging the cost of hundreds of billions of dollars after the Central Bank kept interest rates unchanged. “It’s too late,” Trump tweeted, Powell was called one of the “dumbby” and one of the most “destructive” people in the government. “Two Late” Jerome Powell is spending hundreds of billions of dollars to our country. He is truly the most humble, and most devastating, people in the government, and the Fed Board is complex, “Trump posted on the truth social.Trump expressed disappointment after European countries implemented several rate cuts, to keep the interest rates unchanged. He argued that the US should already reduce 2.5 points to save billions on short -term loans, highlighting the country’s low inflation as the US already applying the cut.“Europe has 10 cuts, we have no one. We must be 2.5 points, and $ Arabs should be saved on all short -term loans of Biden. We have low inflation! Very late an American insult!” Trump noted.He earlier called Powell a “real dummy” and claimed that he is “the cost of billions of America”.Trump has also shared an article in which an investor argued that Powell should immediately resign if he failed to cut short -term interest rates, saying that the Fed’s slow action was damaging the housing market and that inflation fell enough to justify a rate.
The US Federal Reserve decided to keep its benchmark interest rate unchanged for the fourth direct meeting, which stuck with the range between 4.25% and 4.50%.Fed Chair Jerome Powell said that the central bank was not hasty to work and would monitor inflation trends and the impact of Trump’s new tariff in summer. Powell said, “If we wait for a few months, we will take smart and better decisions.”The Fed also modified its approach – increased its 2025 growth forecast from 1.7% to 1.4%, and increased the expectations of inflation by 3% and the unemployment rate “the worst” from “stupid” up to 4.5%. Pavel’s criticism of Trump is not new. In the past, Trump has publicly attacked the Fed Chairman, in which he was called “stupid” just before announcing the rates.Trump suggested that the US pays on its debt by cutting rates – an argument critics say that such steps ignore the risks of inflation.Fed mentioned that there was a possibility of inflation and slow growth on major trading partners by increasing Trump’s 10% tariff. Powell said that complete effects were still not clear and could not be visible for several months. “Because the economy is still solid, we can actually find out time to see what is going to happen,” he said.
