President Trump criticizes Federal Reserve chairman Jerome Powell for holding interest rates steady
President Trump criticizes Federal Reserve chairman Jerome Powell for holding interest rates steady, citing low inflation and increased tariffs. The Fed describes economic growth as solid but notes risks of higher unemployment and inflation. Debate surrounds the impact of tariffs on the economy, with some expecting increased prices and others anticipating faster economic growth.
Key Points
- Fed holds interest rates steady at 4.25% to 4.5%
- Debate on impact of tariffs on the economy
- Trump denies plans to fire Powell
Pros
- Low inflation
- Tariff money pouring into the U.S.
- Expectation of rapid economic growth
Cons
- Risks of higher unemployment and inflation
- Uncertainty about economic consequences of tariffs