Trump calls Fed Chair Jerome Powell a “fool” for keeping interest rates steady

Trump Critiques Fed Chair Over Interest Rates

President Trump criticized Federal Reserve Chair Jerome Powell for maintaining steady interest rates, labeling him a “fool” for not cutting rates sooner. Despite Trump’s claims of “virtually NO INFLATION,” data shows inflation rose 2.4% annually in March, exceeding the Fed’s target. Powell emphasized the importance of the Fed’s independence from political pressure, cautioning that Trump’s calls for rate cuts might undermine confidence in U.S. policymaking and complicate the Fed’s decision-making process.

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