US EditionTrump says ‘stupid’ Powell ‘probably won’t cut’ rates when Fed meeting ends Wednesday
- President Donald Trump renewed his attacks on Federal Reserve Chair Jerome Powell on Wednesday amid the Fed's decision to keep interest rates unchanged at 4.25%-4.5%.
- Trump's criticism followed a rare White House meeting last month at his request and stems from frustration over the Fed's reluctance to cut rates despite his pressure.
- Powell emphasized economic uncertainty due to shifting tariffs and inflation risks while describing the economy as solid and advising to hold rates to assess tariff effects.
- Trump called Powell a “stupid person” who “probably won’t cut today” and questioned if he could appoint himself at the Fed, asserting he would do a better job.
- The Fed’s decision to maintain rates implies continued cautious monitoring of economic data and tariff impacts, with Powell’s term ending in about nine months and renomination uncertain.
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Trump v Powell: US President calls Fed Chair 'stupid'
SBS Finance Editor Ricardo Gonçalves speaks with Westpac Senior Economist Pat Bustamante about why the US Federal Reserve left interest rates on hold despite repeated pressure from Donald Trump, plus Ben Clark from TMS Capital Ltd on the day's sharemarket news, including a continued tumble in the iron ore price.
The U.S. president, who wants to lower rates, called the president of the U.S. central bank Jerome Powell a "stupid person" and a "politicized person." The institution has revised its growth forecasts downwards, but those of unemployment upwards.
In a surprising turn of political events, President Donald Trump has declared his intention to soon nominate Jerome Powell's successor as president of the Federal Reserve.This comes despite Powell's term ending in May 2026.According to the original report, Trump does not hide his dissatisfaction with Powell for not lowering interest rates since his second presidential term began in January.Uncertainty in the marketsThe advance announcement could…
Jerome Powell Won't Lower Interest Rates: He's a "Stupid Person," "Too Late Powell"
President Donald Trump slammed Federal Reserve Chair Jerome Powell on Wednesday ahead of the central bank’s interest rate decision, calling him “a stupid person.” “We have a stupid person, frankly, at the Fed,” Trump said. “He probably won’t cut.” Since Trump took office, the European Central Bank (ECB) has cut interest rates three times. Jerome […] The post Jerome Powell Won’t Lower Interest Rates: He’s a “Stupid Person,” “Too Late Powell” appe…
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