
The Central Bank of America decided last week not to reduce interest rates. President Donald Trump said, that the Federal Reserve Bank and its Chairman Jerome Powell had failed to fight inflation and had done a “horrible job regulating banks. He announced that he would stop inflation.
“Because Jay Powell and Fed failed to stop the problem which they had created due to inflation. I will do that by releasing America’s energy production by reducing regulations,By rebalancing international trade and restoring U.S. production, but by doing more and not stopping inflation. I will make our country again financially powerful and in other ways!” – Donald Trump announced in a post on the Truth Social platform.
The President accused the central bank of “horrible bank regulation work” and stated, that if monetary policy implementers had spent less time on “gender ideology, green energy and the climate counterfeit fraud, inflation would never have been a problem”.
Donald Trump’s comments appeared after the Federal Reserve Bank decided on Wednesday to stop the reduction of interest rates. Fed President Jerome Powell argued that while he still optimistically estimates a reduction of inflation the fed should not cut interest rates.
Donald Trump, who in his first candidacy appointed Powell to run the federal reserve, has never criticised him. But the second time he took the presidency he declared not toreleasehim.
NewU.S.TreasurySecretaryScottBessentpromised,thattheAmericanPresidentintendstorespectthecentralbank’sindependenceinmoneypolicy,butstressedthathewouldcomment onitsdecisions.