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Trump Targets Powell Again, Calls for Fed Rate Cut
BlockBeats News, October 29th, President Trump criticized the Federal Reserve on Thursday, once again directing his criticism at Fed Chair Jerome Powell, accusing him of being slow to act on interest rate cuts. Trump mentioned "Jerome 'Too Late' Powell" in a speech in South Korea, which elicited laughter from business executives and leaders attending the Asia-Pacific Economic Cooperation summit.
Trump added, "We will not let the Fed raise interest rates because they are worried about inflation three years from now." This statement may suggest that he acknowledges that inflation could eventually accelerate. He predicted that the U.S. economy will achieve 4% growth in the first quarter of 2026, well above the median economist forecast from a Reuters survey.
As economists believe, the new import tariffs imposed by the Trump administration are expected to continue to weigh on economic growth. Thursday's remarks underscored the tense relationship between Trump and the Fed, with Trump criticizing Powell for not cutting rates quickly enough, saying the Fed lagged behind its European counterparts, damaging business confidence. (FXStreet)
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