The American president, Donald Trump, returned to load this Friday against the president of the Federal Reserve (Fed), Jerome Powell, which he described as a “stubborn idiot” and warned that if he continues without “substantially” the interest rates, the Board of the Agency should “take control” to achieve it.
“Jerome ‘Tardón’ Powell, an idiot stubborn, must substantially lower interest rates, now! If you keep refusing, the Board should take control and do what everyone knows what to do!” Trump wrote in his social truth network.
In another message, the Republican insisted minutes later that Powell “is a disaster” and reiterated that the Fed must reduce the rates.
“Lower the rate! The good news is that the tariffs are bringing billions of dollars to the US,” said Trump, who from his return to power in January increased taxes against their commercial partners with new tax schemes, most of which will come into force next week.
Read more: reluctance of the Fed to cut rates forces the market to rethink prospects
Powell defends Fed independence and rejects Trump’s request
After its most recent meeting this week, the Federal Open Market Committee (FOMC) of the Fed maintained interest rates in a range of 4.25 to 4.5%, although for the first time in years the decision was not unanimous and two of the members voted in favor of lowering the rates.
Trump renewed the pressure on the Fed and his leader with almost daily messages on his social truth platform in which he came to ensure that Powell is “too stupid and political” to hold the position.
The New York insists that a decrease in types is necessary because the “economy is going better than ever” under its command, evidenced in the 3% rebound of the gross domestic product (GDP) recorded in the second quarter of the year, after the contraction of 0.5% in the months of January-March.
For his part, Powell defends the independence of the organism in the face of the republican requests. After announcing the decision to maintain the types, he indicated this week that his current policy is well positioned to continue enduring waiting to see the real impact of tariffs driven by the US president.
The agency, which announced that it expects “one or two declines” for the end of the year, will meet again on September 16 and 17.
With EFE information
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