Trump: Powell is a ‘numbskull’ for not cutting rates
President calls for 100bp easing, while vice-president says Fed policy is “monetary malpractice”
Donald Trump on June 12 reignited his criticism of Jerome Powell, describing the chair of the Federal Reserve as a “numbskull”.
The US president claimed that if the Fed lowered rates by 200 basis points it would save consumers $600 billion a year. Trump also mocked Powell’s reasoning and his voice.
The Fed should raise rates a year from now if there were inflation, Trump said, and added: “I may have to force something.”
On June 11, Trump had argued that the Fed should lower rates by 100bp. On his
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Experts also back Powell’s assessment rates would probably be lower were it not for tariffs