US President Donald Trump has been harshly criticizing Federal Reserve Chairman Jerome Powell on every occasion.
President Trump, who had previously called Powell an idiot, has reiterated this rhetoric and Target Powell again.
Trump has criticised Powell's interest rate policy, but has argued that the economy is in good condition and that interest rate cuts are necessary.
At this point, Trump has emphasized that there should be aggressive interest rate cuts to stimulate the economy, but Powell continues to insist that interest rates should not be changed due to concerns about tariff inflation and instability.
Powell became Trump's target with this attitude, and Trump called Powell an idiot in his speech today.
“I think Fed Chairman Jerome Powell is a very stupid person. I think he has a low IQ for his job.
I actually think he's a very stupid person. We'll pay him for years! (…) You'll end up paying 2 or 3 more points in debt! 3 points means $900 billion a year! He has a low IQ for what he is doing.
Because he didn't want to cut interest rates, not pay $900 billion! ”
Donald Trump also said he has candidates in mind to replace the Fed's chair.
At this point, Trump said he was considering candidates to replace the Fed's chair and even began interviewing candidates. He added that he interviewed three or four people for his next Fed chair.
*This is not investment advice.
