As Republicans Totally Ignore Him, Elon Musk Says He Has Some Regrets
Donald Trump’s without ignorance rates were good for one thing: keeping interest rates of the federal reserve, according to the president of the central bank, Jerome Powell.
Speaking at a European Central Bank forum in Portugal on Tuesday, Powell said the federal reserve would probably have lowered the rates if it was not for the announcement of the president of the “Liberation Day”.
“Indeed, we were careful when we saw the size of the prices and essentially all inflation forecasts for the United States increased materially due to prices,” said Powell.
Last month, Powell announced that the central bank would retain its key borrowing rate – between 4.25% and 4.5% – and wait until the residual impacts of the new American tariff plan before reducing interest. Indeed, companies had already decided to increase the prices of products throughout the year in reaction to the hindered global supply chains, according to Powell.
“For the moment, we are well placed to wait to find out more about the likely course of the economy before considering any adjustment to our political position”, Powell said at the time.
The White House did not take the news well. Last week, Trump ridiculed the president as “terrible” and a “very average mental person”.
“I would say low in terms of what he does. Low Qi for what he does,” Trump told a press conference at the NATO summit in Hague.
Powell’s mandate at the top of the Federal Reserve expired in May 2026, while his mandate as a member of the Fed board of directors ended on January 31, 2028. And the president already dreams of the day, announcing journalists that he has three or four replacements in mind for Powell, which Trump appointed in 2018.
Trump launched even more pressure on the American financial column on Monday, when he wrote Powell handwritten letter Affirming that the president had cost America “a fortune”. The letter, retained by the press secretary, Karoline Leavitt, in a press briefing, demanded that Powell reduces the prices “by many”.
In an article on social networks later during the day, Trump also continued the Federal Reserve Board, accusing them of standing while Powell does his job balancing the US dollar in the light of Trump’s business pouffonneries.
“If they did their job properly, our country would save billions of dollars in cost of interest”, Trump wrote. “The board is just sitting there and watching, so they are also to blame.”
But Powell is not alone in his evaluation. Compto economists outside the federal reserve also argued that it was not the time to reduce interest rates. The president of the Atlanta Fed, Raphael Bostic, said Reuters Last week, the country has “space and time” to determine its ideal prices since companies have already increased prices in reaction to increased equipment and service costs following Trump prices.
