US EditionWhite House ramps up pressure on Fed's Powell three weeks before next interest rate decision
DISTRICT OF COLUMBIA, UNITED STATES, JUL 11 – President Trump and allies accuse Fed Chair Powell of mismanagement and political bias, linking delayed rate cuts to $360 billion yearly refinancing costs, as they seek a successor before May 2026.
- President Donald Trump criticized Fed Chair Jerome Powell for not cutting interest rates and suggested replacing him.
- Senators John Kennedy and Thom Tillis expressed caution about appointing one person to both the Treasury and Fed roles, raising concerns about independence.
- A White House spokesperson defended Trump’s criticism of Powell, stating it was his right to express concerns.
- Trump claims the Fed's rate is 'AT LEAST 3 Points too high,' affecting refinancing costs and the economy negatively.
21 Articles
21 Articles
Analysis by Phil Mattingly, CNN President Donald Trump's attacks on Federal Reserve Chairman Jerome Powell are so commonplace at this point that they have little impact on financial markets. The rapid intensification of Trump's advisers' varied attempts to amplify and expand his attacks is good reason to reconsider that indifference. White House advisers are unequivocally engaged in a coordinated campaign to dramatically increase pressure on Pow…
Trump attacks Fed Chair Powell for not moving quickly to cut interest rates
NPR speaks with David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, about Trump's attacks on the Fed chair for not moving to cut interest rates.
The Trump administration's escalating campaign against Federal Reserve Chairman Jerome Powell came to a head on Thursday.
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