- Donald Trump called Jerome Powell a loser and threatened to fire him.
- The US President is insisting on cutting the rate to 1%, while the Fed is keeping it at 3,50-3,75%.
US President Donald Trump again collapsed criticized US Federal Reserve Chairman Jerome Powell, calling him a «disaster for America» and saying interest rates remain too high.
Criticism was voiced in ARTICLES Trump, where in the picture, a man resembling Powell falls into a trash can.
The US President has previously pushed for an aggressive interest rate cut to 1%. However, the Federal Reserve maintains its benchmark rate between 3,50% and 3,75%. This gap indicates a direct political conflict.
Trump claims that lowering rates will reduce borrowing costs and ease pressure on the $38 trillion national debt. The Fed, meanwhile, remains focused on curbing inflation. Because of this, Trump threatened to fire Powell and supported investigation Ministry of Justice, related to the work of the agency.
Powell’s term as chairman expires on May 15, but he plans to remain on the Federal Reserve Board. The current governor also stated that recent actions against the agency are unacceptable and could lead to a weakening of the institution. Therefore, his continued presence in the position is intended to ensure policy independence during a period of direct political attack.
Cheaper money should stimulate the development of the economy, including the cryptocurrency one, which can get a new round thanks to the possible adoption of the law on regulation of CLARITY stablecoins.
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