- Trump accused Fed Chair Powell of making politically motivated decisions on interest rates.
- He said Powell is considering interest rate cuts this year to help Democrats.
- Powell has emphasized he does not have a role in policymaking and will continue to weigh economic data.
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The head of the nation’s central bank isn’t getting former President Donald Trump’s stamp of approval.
On a Friday morning interview with Fox News, Trump criticized Federal Reserve Chair Jerome Powell’s handling of the economy, particularly regarding interest rates. While Powell has previously maintained his position does not have anything to do with policymaking, Trump accused the bank’s chair of being “political,” and making decisions that will help Democrats in the upcoming elections.
“I think he’s going to do something to probably help the Democrats, I think, if he lowers interest rates,” Trump said, adding that “it looks to me like he’s trying to lower interest rates for the sake of maybe getting people elected.”
Ask any blue city in a red state if local is enough…
That’s where the solution starts, but this is like climate change. We’re not going to fix it overnight, it’s going to take decades of hard work and we’re going to have to keep working to maintain it or it’ll just happen again later.
We gotta try, but we need to be honest about how hard it is and how long it will take.