US President Donald Trump renewed his criticism of Federal Reserve Chair Jerome Powell, accusing him of being too slow to cut interest rates and escalating a long-running conflict that risks undermining the central bank’s political independence.
With the European Central Bank (ECB) cutting interest rates again on April 17, “Too Late” Powell has failed to act appropriately in the United States, even with inflation falling, Trump said on Truth Social on April 17.
“Powell’s termination cannot come fast enough!” Trump said.
Source: realDonaldTrump
Florida Senator Rick Scott agreed with the president, saying, “it’s time for new leadership at the Federal Reserve.”
Trump’s public criticism of the Fed breaks a decades-long convention in American politics that sought to safeguard the central bank from political scrutiny, which includes any executive decision to replace the chair.
In an April 16 address at the Economic