The Federal Reserve left interest rates unchanged Wednesday, despite the new president’s demands for lower rates
by William Gavin
Quartz
President Donald Trump is renewing his old attacks on the Federal Reserve and its chair, Jerome Powell, after the independent body voted to hold interest rates steady in its first rate decision of the year.
“Because Jay Powell and the Fed failed to stop the problem they created with Inflation, I will do it,” Trump wrote on his Truth Social, by slashing regulations, pushing for more energy production, “rebalancing international trade,” and growing domestic manufacturing.
“If the Fed had spent less time on [diversity, equity, and inclusion], gender ideology, ‘green’ energy, and fake climate change, Inflation would never have been a problem,” Trump added. “Instead, we suffered from the worst Inflation in the History of our Country!”