After installing the interest, Trump describes the head of the federal reserve as “stupid”
Trump wrote on his personal page on Truth Sushal that Powell “is very late, in fact, very angry, very stupid, and very embarrassed to do this job.”
Interest rates
As expected, the American Federal Reserve kept interest rates unchanged for the fifth time in a row. Powell stated that the Foundation can still wait to learn more about the path of the economy before changing the main interest rates.
The US President added on Thursday morning: “Jerome Powell +is very late +,” after weeks of expressing his annoyance from the man who appointed him to head the institution during his first term.
Useful interest rates
“I want him to reduce interest rates,” Trump recently said. This step would facilitate credit, encourage economic activity, and reduce the burden of federal government debts.
But Powell considered Wednesday that there are still “many doubts that have to be resolved” regarding the impact of customs duties on the American economy. Reducing interest rates may lead to high inflation.
Customs
Inflation continued to rise in the United States in June, to 2.6% on an annual basis, according to the official personal consumption expenditures index published Thursday, with more new customs duties imposed on imported products.
The inflation rate reached 2.4% in May on an annual basis.
Since the spring, Trump has been inviting the other reserves to dismiss Powell, and has repeatedly expressed his desire to dismiss him. Last week, the US President made a surprise visit to the Federal Reserve Renewal project in Washington, which he considers very expensive.
The US President said again on Thursday that this project “is considered one of the worst real estate projects, or (most), corruption in the history of construction.”
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