The president’s young people are “bigger than those expected” and their financial impact includes higher inflation and slowdown in growth, the US Federal Bank () President Jerome Powell said today.
“We are facing an extremely uncertain outlook with increased risks of both higher unemployment and higher inflation,” which undermine both Fed’s 2% inflation commands and maximum employment, Powell said in a scheduled speech given to journalists.
With the publication of his speech, Trump posted the Fed president to reduce interest rates, with the US president saying this is the “ideal time” to do so.
“Reduce interest rates, Jeromes, and stop playing political games!” Trub wrote in a capital letters in a post on Truth Social.
In his speech, Powell said he was “too early” to adapt the monetary policy of the US Federal Bank, because the consequences of the wave of new duties on US -imported products could not be appreciated. “It’s too early to say what is the right monetary policy,” he said.
“While duties are very likely to cause at least one temporary increase in inflation, it is also possible that the effects are more persistent,” he added.
