Trump beats Trump Powell, who is expected to remain unchanged
“Making Money” host Charles Payne discusses President Donald Trump’s jabs with Federal Reserve Chairman Jerome Powell after a softer-than-expected CPI report.
president Donald Trump Prior to the central bank’s interest rate decision, he denounced Federal Reserve Chairman Jerome Powell on Wednesday, calling him a “silly person.”
“Frankly, there are some stupid people in the Fed,” Trump said. “He probably won’t cut.”
The Fed will announce its latest decision on Wednesday on whether to cut interest rates.
This week, the central bank is widely expected to remain unchanged, making it four consecutive meetings with the central bank changing rates. The benchmark federal funding rate is in the target range of 4.25% to 4.5% since the Fed’s last interest rate cut in December.
FED and Powell face political pressure from the Trump administration and face lowering rates to drive the economy.
Vice President JD Vance on Wednesday reflected Trump’s demand for the Federal Reserve to cut interest rates.
“The president has been saying this for a while, but that’s even more clear: the Fed’s refusal to cut fees is a financial malpractice,” Vance wrote in X’s post.
Trump recently beat the Fed’s chairman earlier this month after the release of Jobs Report in May, stronger than expected.
“Too late” with the Fed is a disaster! ” Trump wrote in a post about True Society. “We had 10 interest rate cuts in Europe, and we had nothing.