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Trump calls Fed Chair Jerome Powell a ‘fool’ after central bank keeps rates steady

  • President Donald Trump called Federal Reserve Chair Jerome Powell a 'fool' after the Fed kept interest rates steady on May 7, 2025.
  • Trump's criticism followed Powell's decision to hold the benchmark rate at 4.25% to 4.5% despite pressure from the White House to cut rates.
  • Powell emphasized independence, stating he never asks or meets with presidents and that Trump does not affect their job decisions.
  • Trump claimed that inflation is virtually nonexistent with prices of oil, energy, groceries, and eggs declining, while 'tariff money is pouring into the U.S.'.
  • The dispute highlights ongoing tensions between the Fed and the White House, with implications for U.S. Monetary policy and political relations.
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Trump calls US Fed chair 'fool' after pause in rate cuts

US President Donald Trump branded Fed Chair Jerome Powell a "fool" on Thursday after the central bank announced another pause in rate cuts and warned of higher risks to inflation and unemployment goals.

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Forbes broke the news in United States on Thursday, May 8, 2025.
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