Republican attacked the president of the federal reserve in two publications on his social network, in which he did not refer to him by name, but used the nickname of ‘Too Slow’ of the Fed (‘very slow’)
The president of the United States, on Friday (6), as “disaster” the work of Federal Reserve President Jerome Powell, and reiterated his request that, following Europe’s example, reduce interest rates because “there is virtually no inflation” in the country.
Trump once again attacking Powell in two mornings on the social network, where he did not refer to him by name, but used the nickname “Too Slow” (“very slow”) as what he usually calls the economist. “If Fed’s ‘to-slow’ recovered, we would significantly reduce interest rates, both short and long-term, about expired debt,” he wrote, and highlighting that former President Joe Biden “focused mainly on the short term.”
According to Trump, there is “virtually no inflation (more) in the country, but if it comes back, the interest rate will be increased to combat it. Very simple!” He stated that the delay of the Fed to reduce rates “is costing a fortune to the country” and complained that “the costs of loans should be much lower!”
“Too late! Europe had 10 rates in the rates, we didn’t have any. Nevertheless, our country is going very well,” Trump wrote a few minutes earlier in another post on Truth Social. The US president has repeatedly insisted that the Fed reduces the basic rate of the economy, which is currently in the 4.25% to 4.5% range. The next meeting of the Federal Open Market Committee (FOMC) to evaluate possible increases or cuts will take place on June 17 and 18.
Two days ago, the US President had already requested a interest rate cut in the face of stagnation in the private investment sector, according to a report by the ADP payroll processing company, which reported an increase of only 37,000 jobs in May, well below the 110,000 planned by analysts.
Trump had public confrontations with Powell, whom he not only censored by acting too late, but also by claiming that he knows more than him, he called him “fool” and threatened him, something he cannot do by law. Meanwhile, the president of the Fed defended independence from the country’s central bank.
*With information from EFE
Posted by Carolina Ferreira
