President Donald Trump received another shot for the Federal Reserve Chairman Jerome Powell on Wednesday.
“The mortgage rates have decreased slightly, although I have a federal reserve man that I am not a big admirer for him. But this is fine, these are simple details. Don’t tell him that I said that, please,” Trump said about Powell during a speech at the White House.
Trump was talking to business leaders, who thanked them for their investments to manufacture their products in the United States. In his speech, Trump repeated his long criticism of Powell by sharpening Powell’s refusal to reduce interest rates.
“It should reduce interest rates,” Trump said. “
Trump nominated Powell to hold the position of President of the Federal Reserve in 2017, during his first term as president.
Trump initially praised Powell when he announced his candidacy, saying that Powell would be a “wise host of the Federal Reserve”, but he quickly strained his choice. He has repeatedly called Powell to reduce interest rates.
In April 2019, Trump wrote on X, then known as Twitter, that Powell was hindering the US stock market by not lowering interest rates.
Recently, on April 17, Trump wrote about the social truth that “Powell ending cannot come quickly” after Powell said that Trump’s comprehensive tariff in the world could lead to high inflation and weaker economic growth.
“The European Central Bank is expected to reduce interest rates for the seventh time, however,” very late “Jerome Powell from the Federal Reserve, which has always been late and wrong, yesterday issued another report, and a” complete “chaos!”
In the same position, Trump said, “Powell ending cannot come quickly enough.” He later said he had “no intention” to launch Powell.
Trump several times said he had the power to remove Powell before the end of the Powell state in May 2026. It is not clear if he was able to do so. The law says that the president can only remove the Federal Reserve official “for the reason”, such as misconduct and not on policy disputes.
In November, shortly after Trump’s victory in the presidential elections, Powell told the correspondents that Trump could not shoot him because he was “not allowed under the law.” Powell also said he would not resign as a feeding chief if Trump asked him to.
The Federal Reserve Representative declined to comment on Trump’s comments on Wednesday. The White House did not respond to a request for suspension from Business Insider.
