US President Donald Trump, left, and the American Federal Reserve chairman Jerome Powell.
Win McNamee | Kevin Lamarque | Reuters
President Donald Trump again called on the Federal Reserve on Thursday to lower the rates and even hinted to the “termination” of chairman Jerome Powell.
In a truth social postTrump said:
“The ECB is expected to lower the interest for the 7th time, and yet,” too late “Jerome Powell of the Fed, who is always too late and wrong, yesterday issued a report that another and typical, complete” mess! ” The oil prices have fallen, groceries (even eggs!) Are no longer and the US becomes rich in rates.
The European Central Bank has indeed reduced the rates because it tries to stimulate growth in the region. The ECB is expected to reduce the rates later on Thursday.
The post comes a day after Powell had given a speech in the Economic Club of Chicago, in which he noticed that the rates of the administration brought the Central Bank to a difficult place because it decides whether inflation is plagued whether growth is dating.
“If that happened, we would consider how far the economy of every goal is, and the potentially different time horizons that those respective gaps would be closed,” said Powell. These comments contributed to a steep sale on Wednesday.
This is not the first time that Trump criticizes the Powell approach of American monetary policy. Trump posted on 4 April, two days after the announcement of the administration, that “it would be a perfect time for FED chairman Jerome Powell to lower the interest rates. He is always ‘late’, but he could now change his image, and quickly.”
However, it is the first time that Trump has explicitly called for Powell’s shooting. Powell said that the president does not have the power to dismiss him, and notes that it is ‘not allowed under the law’.
The period of Powell as Fed Chair ends in May 2026.