Trump Slams Fed's Powell Over Interest Rates

Trump Slams Fed's Powell Over Interest Rates

US President Donald Trump has sharply criticized Federal Reserve Chair Jerome Powell, calling for 'substantially lower' interest rates after the central bank maintained its current rate. In a recent statement, Trump labeled Powell's decisions as 'moronic' and accused him of failing to address inflation concerns.

The Fed, however, acknowledged that inflation remains 'somewhat elevated,' contrary to Powell's earlier claims. This has further strained relations between Trump's administration and the central bank, with ongoing investigations and political tensions rising.