Donald Trump’s return to the White House promised a fairly moved mandate and the forecasts are being fulfilled. This same week, they have at the beginning of the commercial war. “Reciprocal” taxes that he wanted to impose on those countries- friends, some of them, who consider that they have taken advantage of the United States.
But beyond the measure, released last April in the so -called Liberation Daythe new American administration has given many samples to impose its yoke to the country’s economic policy. Starting with the management of employment data And following his continuous criticism of the regulator of US banks, the Federal Reserve.
It is very striking that Trump, since the last electoral campaign, was very contrary to the figure of the president of the FED, Jerome Powell. It is curious because it was the republican leader himself who chose the leader to put him in front of the financial institution. But it is not a surprise for anyone who has the days counted.
The tariffs of the American president are the tip of an iceberg with which he seeks to tear down any wall, however efficient it is, to be a nuisance for his economic plans that aim to try make the United States “big again“.
Employment? Everything is “manipulated”
What Trump has made quite clear is that he who does not meet his guidelines or acts according to his ideals is against him. And that that theory has little to do with what has happened with the employment data last July.
As soon as the report that showed the weak employment situation in July in the United States, the US President did not want to analyze the data and seek to find guilty. Therefore, he decided to say goodbye to the head of Labor Statistics, Erika Mcentofer.
As usual, through Truth Socialhe wanted to react to the data, but without mentioning that only 73,000 new jobs have been created, less than the 106,000 positions that were expected, since unemployment had elevated one tenth, up to 4.2%.
All these data, for the White House tenant, are manipulated- a common strategy in it, as it did after the November 2020 elections and decided to point out the head of labor statistics.
“They just informed me that the ’employment figures’ of our country are being prepared by a person designated by Biden, who Falsified the figures before the elections to try to increase the possibilities of Victoria de Kamala“He said.
Trump ordered his team to dismiss “this person politically designated by Biden immediately”, because his country needed “precise employment figures.” “It will be replaced by someone much more competent and qualified. Important figures such as this should be fair and precise, they cannot be manipulated for political purposes,” he said.
Donald Trump criticizes the “manipulation” of employment data with graphics
Little fed
That same day, the US president received another news. The governor of the Federal Reserve (Fed), Adriana Kugler, announced last Friday her resignation months before her term ended.
Undoubtedly, Kugler has decided to step aside, because since Trump entered the campaign, he has not ceased to press the US banks regulator. First, accusing its president, Jerome Powell, of doing politics with interest rates in favor of Kamala Harris. But more strong have been his words- offenses as “fool”, “useless” or “crazy”- and his disagreements, since he returned to the White House, against the leader of the financial institution.
“It has been an honor for me to be part of the Board of Governors of the Federal Reserve. I feel especially honored to have served for a crucial moment to achieve our double mandate: reduce prices and maintain a solid and resilient labor market“said the former governor of the Fed.
In fact, this Thursday, Trump has nominated a key person in his battle of tariffs for that position. He has proposed as governor in the Fed the president of the Council of Economic Advisors, Stephen Look.
But if there is a scene that summarizes the bad relationship between Powell and Trump, that was the one that both starred on July 24. The Republican leader visited the works of the Fed headquarters with the president of the institution.
“We are seeing the construction, and we are with the president, as they know, Jeremy, come. We are taking a look at what is happening. It is a difficult construction work, building basements where they did not exist or expanding them. And a lot of very expensive work. There is no doubt about it, “said the White House tenant.
Trump accused Powell from moving from the 2,700 million budgeted to 3.1 billion dollars and the president of the Fed did not hesitate to correct him. First, he shook his head, and then said he had not “heard that of anyone.” Trump gave him a role in which an extra cost was allegedly collected, including the remodeling of the Martin building, finished five years ago.
“Are you including Martin’s renewal? They added a third building,” Powell questioned. Trump said it is a building that “is being built now” and the Fed leader replied that “It was built five years ago“.” It’s not new, “he reasoned.
Jerome ‘Tardón’ Powell
The enmity between both leaders is not new, but what is clear is that the president of the US financial institution is on the tightrope. Although his mandate ends in May 2026 and the Republican leader says that it is “very likely” to exhaust it, Powell’s monetary policy has worsened the situation.
You have to return to the last 2024 Fed meeting to see the last interest rape. Since Trump returned to the White House, there has been no cuts and the price of money is still at 4.5% set since December 18.
Despite the insistence of Washington to reduce the types, the Federal Open Market Committee (FOMC) of the Fed has not yielded to the requests and has maintained its position. “Although fluctuations in net exports continue to affect the data, recent indicators suggest that the growth of economic activity was moderated in the first half of the year. The unemployment rate remains low and the conditions of the labor market remain solid. Inflation is still somewhat high“The agency said on July 30.
Many have been Trump’s complaints against “Jerome ‘Tardón’ Powell“, which accuses you of refusing” to lower interest rates “and make the country’s housing” lagging “.” Our country has to pay a higher rate than it should be due to ‘late’. This federal reserve stubborn simply does not understand; He never understood and will never understand. The Board (of the Fed) should act, but it does not have the courage to do it! “He said a few weeks ago.
The only good news for the Republican leader is that the leader of the agency has opened the door to apply the first reduction of the year in September. While deciding the future, Trump already talked about handles up to four candidates to hold Powell’s position.
In an interview last Tuesday in the chain CNBCthe American president confessed that he loves the secretary of the Treasury, Scott Besent, but revealed that he is not interested in the position: “I asked him if this is something he wants. ‘No. I want to stay where I am‘. In fact, he said: ‘I want to work with you. It is a great honor. “
Without cutting a little, the Republican leader said he has four potential candidates, among which is former Governor Kevin Warsh and Kevin Haset, director of the National Economic Council. “To both of them Kevin They are doing well and I have two other people who do well. In the end, there are many qualified people“He explained.
Although the tariffs have been the banner of the new White House, in just over six months at the head of the country, Trump has made it clear that his yoke submits anyone who tries to put himself on his way. It remains to be seen the effect that all the economic measures that it has launched and wants to impose in the world and also in the United States will have.
