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President Donald Trump derided Federal Reserve Chairman Jerome Powell once again Thursday, a day after the central bank voted to not lower rates because of economic uncertainty created by tariffs.
Trump said in a Truth Social post:
“‘Too Late’ Jerome Powell is a FOOL, who doesn’t have a clue. Other than that, I like him very much! Oil and Energy way down, almost all costs (groceries and “eggs”) down, virtually NO INFLATION, Tariff Money Pouring Into the U.S. — THE EXACT OPPOSITE OF “TOO LATE!” ENJOY!”
The Fed on Wednesday voted to keep its benchmark interest rate in a range of 4.25% to 4.5%, where it’s kept it on hold since December, frustrating the president who wants the central bank to cut rates to counter a possible slowing economy due to the rollout of his trade policies.
The Fed said that it was keeping rates the same until the economic outlook becomes clearer.
