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US President Donald Trump harshly criticizes FED Chairman Jerome Powell at every opportunity.
President Trump, who had previously called Powell an idiot, reiterated this rhetoric and targeted Powell again.
Trump harshly criticizes Powell's interest rate policies, while arguing that the economy is in good shape and that interest rate cuts are necessary.
At this point, Trump emphasizes that there should be aggressive interest rate cuts to stimulate the economy, while Powell continues to insist on keeping interest rates unchanged due to concerns about inflation and instability caused by tariffs.
Powell became Trump's target with this attitude, and Trump called Powell an idiot in his speech today.
“Fed Chairman Jerome Powell, I think, is a very stupid person. He has a low IQ for the job he does.
I actually think he's a very stupid person. We'll be paying for him for years! […] We'll be paying 2 points or 3 points more on the debt! 3 points means $900 billion a year! He has a low IQ for what he does.
Because he didn't want to just lower the interest rate instead of paying $900 billion!”
Donald Trump also stated that he has candidates in mind to replace the Fed Chair.
At this point, Trump said he was considering a candidate to replace the Fed chair and had even begun interviews with candidates. He added that he had interviewed three or four people for the next Fed chair.
*This is not investment advice.