President Donald Trump wants the Federal Reserve to cut interest rates as a countermeasure to the expected economic slowdown and rising inflation from tariffs. However, widespread uncertainty is only making it harder for the Fed to put an end to its current holding pattern on rate cuts.
by Paolo Confino
Fortune
President Donald Trump and Federal Reserve Chair Jerome Powell are at odds.
On Thursday Trump again called on the Fed, and Powell specifically, to lower interest rates. Just a day earlier Powell had reiterated the Fed’s view that the relative strength of the economy meant it didn’t have to rush to make a decision.
“For the time being, we are well positioned to wait for greater clarity before considering any adjustments to our policy stance,” Powell said on Wednesday.
Powell’s cautious approach incensed the president. In a social media post early Thursday morning, Trump called Powell’s assessment a “mess” and accused him of being “TOO LATE AND WRONG.”