Trump Lambasts Powell Again Before Fed Rate Decision

President’s Criticism Intensifies Ahead of Crucial Fed Meeting

Donald Trump has once again criticized the head of the Federal Reserve, Jerome Powell. His remarks come just hours before the central bank is poised to announce its decision regarding interest rates, stirring fresh controversy and market speculation.

During a White House press event, Trump expressed his discontent with current interest rates, despite the U.S. collecting $88 billion in duties. He restated his call for rate reductions. “Frankly, we have a stupid Fed person,” he said, referring to Powell. Trump believes rates should be lower by two points. He added, “He will probably not cut rates today. Rates that should be two points less. It would be nice if they were lower than 2 and a half points.”

Trump has repeatedly voiced his opinions, labeling Powell “too late Powell.” He also mentioned, I think you hate me, but that’s okay, I have always been kind to him, I did everything in order, I am kind, I am bad, nothing works.

Further explaining his view, Trump noted that the central bank’s current management is disappointing. He wanted to go a lot in the short term and then go long.

Interest rates directly affect the housing market and the costs for business loans. According to the National Association of Realtors, the average 30-year fixed-rate mortgage has increased to 7.1% as of November 2024 (Source 2024).

Historical Context and Implications

Trump’s statements reflect a pattern of pressure on the Fed to adopt policies that align with his economic agenda. His persistent criticism of Powell highlights the ongoing tension between the White House and the central bank, which has historically aimed to maintain its independence.