The US president, Donald Trumpagain unloaded his anger against the president of the Federal Reserve, Jerome Powellwhom he described as “foolish” After the entity maintained interest rates without changes, considering that inflationary risks persist.
“Too slow, Jerome Powell is a fool, who has no idea (…)”Trump said in a post of the social truth network, in which he ensures that fuel prices and energy are “well below” and that in the country there is no “virtually” inflation.
The Open Market Committee of the Federal Reserve (FED) decided yesterday, at the close of its two -day meeting, maintaining interest rates without changes in the fork of the 4,25-4,5% where they are maintained from the December 2024.
Trump once again expressed his frustration with Powell in a round of questions in the Oval Office and said that a decrease in guys would now be like “jet fuel” for the economy.
“It’s ridiculous, it’s always too late. But it will not matter much, because the economy of this country is very strong, ”said Trump, who recalled that other central banks of large economies have maintained in recent months the rhythms of declines of types in the face of inflation control and to stimulate growth.
“(Powell) does not want to do it. It probably does not have much love for me. It’s a bit crazy reason, but life is, ”Trump confessed.
The friction between Trump and Powell
Since his arrival to power in January, the US president has repeatedly asked Powell to announce another decrease in types because inflation is contained and his policy of higher commercial tariffs brings income to public coffers, while the president of the Fed has defended his independence.
Powell pointed out yesterday in his usual press conference that although it is “likely” that tariff increases cause an increase in inflation, a deceleration of economic growth and an unemployment rise if they continue, for the moment the economy itself remains solid.
The United States GDP contracted 0.3% in the first quarter in annualized rate and 0.1% compared to the previous quarter, the first negative data since 2022, but the leader of the broadcasting bank pointed out that although people are concerned about the impact of the tariff conflict, it has not yet arrived.
Unemployment remained at 4.2% in April in the USthe same level as in March, while prices descended in March 0.1%, their first monthly fall since May 2020, and left that month interannual inflation in 2.4%, slightly above the objective of 2%marked by the Fed.
Powell indicated yesterday that these good data allow monetary policy to be patiently faced in the face of uncertainty about the impact of changes in commercial, regulatory and budgetary policy of Trump Adminsitration.
