President Trump pointed to the president of the Federal Reserve, Jerome Powell, wrote Thursday in a publication on social networks that Powell should reduce interest rates and add that his “termination cannot arrive quickly enough.”
Mr. Trump’s comments in its social media application, Truth Social, come after Powell delivers a speech on Wednesday that warned Or the possible consequences of the Trump administration’s commercial war, while reiterating that the Central Bank plans to keep the stable interest rates for now.
The Fed has stopped the interest rate cuts this year due to sticky inflation, which has remained higher than its objective growth rate or 2% per year.
Meanwhile, Trump has introduced a series of tariffs on the main commercial partners that economists say that inflation could rekindle. Powell highlighted these risks on Wednesday, saying that Trump administration tariffs could create a “challenging scenario” for the US. UU. Which requires that both the management of accelerated inflation and a decelerating economy.
These types of conditions describe the “stagflation”, a combination of “stagnation” and “inflation” that describes the periods in which economic growth fails while price increases accelerate.
In its publication on social networks, Trump on Thursday to the European Central Bank, which reduced the rates at 0.25 percentage points after the president registered his message.
“The ECB is expected to reduce interest rates for the seventh time and, nevertheless,” too late “, Jerome Powell, of the Fed, which is always too late and incorrect, yesterday issued a report was another disaster!” Trump wrote.
He added: “Petroleum prices are low, edible (even eggs!) They are low, and the United States is enriching tariffs. Too late should reduce interest rates, such as the ECB, a long time ago
Can Mr. Trump shoot Powell?
After Trump was chosen in November, Powell said he I would not drop If the president asks, which he has previously criticized his performance. Powell has also noticed that, according to law, presidents cannot shoot or degrade the Fed chair.
Mister. Trump nomó to Powell To lead the Fed in 2017, and Powell was re-nominated by President Joe Biden in November 2021. Powell’s mandate as president of the Fed ends on May 15, 2026.
Over the years, Powell has firmly defended the independence of the Central Bank. In December, he said that isolating the Fed of political influence is “for the benefit of all Americans”, which allows decisions based on economic data instead of the elected officials.