Posted on 07/01/2025 3:47:59 PM PDT by E. Pluribus Unum
Fed Chair Jerome Powell's latest comments come as President Trump has intensified his attacks on the Fed chair and continued to push for a rate cut.
Federal Reserve Chair Jerome Powell defended the central bank's decision to not cut interest rates so far this year and said it would have already cut rates if not for tariffs.
At a forum put on by the European Central Bank on Tuesday in Sintra, Portugal, Powell was asked if the Federal Reserve would have cut rates if not for President Donald Trump's tariffs.
"I think that's right," Powell said. "In effect we went on hold when we saw the size of the tariffs, and essentially all inflation forecasts for the United States went up materially as a consequence of the tariffs. So, we didn't overreact. In fact, we didn't react at all. We're simply taking some time."
Powell also repeated his wait-and-see approach when it comes to interest rate cuts and how tariffs could impact the economy.
"As long as the U.S. economy is in solid shape, we think the prudent thing to do is to wait and learn more and see what those effects might be," he said.
Powell's latest comments come as President Trump has intensified his attacks on the Fed chair and continued to push for a rate cut.
On Monday, White House Press Secretary Karoline Leavitt said the president sent a note to Powell criticizing his decision not to lower the interest rate.
"Jerome, you are as usual too late," it said. "You have cost the USA a fortune and continue to do so. You should lower the rate by a lot."
The Fed cut interest rates in each of its final three meetings last year, but it has maintained rates between 4.25% and 4.5% through...
(Excerpt) Read more at scrippsnews.com ...
In other words: “Trump’s fault!” (What a d*ck!)
Hopefully he can be arrested for lying to Congress about the “Fed Mahal”.
I detest that filthy liar. He is merely a Trump hater. And a fool. In that order.
I would have married my girl friend if she didn’t have another boyfriend.
Well, he just dove into the deep end of the politics pool, didn’t he? Glub-glub.....
Powell drives by watching his hood ornament.
The creature from Jekyll Island needs to be abolished.
What BS. Anyone can say would have after the fact.
Trump hater? Trump gave him the job.
“Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world.”
— Henry Kissinger
Rubbish. Such obvious politicization of the fed raises the longstanding question of whether we should continue it in its convoluted and unaccountable existence
“who controls money can control the world.”
He must have been channeling Mayer Amschel Rothchild.
He was, but there are so many fact checkers saying the man never said that I did not quote it. He probably did say it.
Yeah..... and if’n a frog had wings.......
Clown will be gone in the Fall.
I can wait.
He’s a liar.
This strikes me as a flaming lie.
I would’ve except for Trump and his Trumpian (spins wheel) ... um, tariffs! or does this say Eggs! Yes eggs.
“U.S. inflation rises 0.1% in May from prior month, >>less than expected<<”
https://www.cnbc.com/2025/06/11/cpi-inflation-may-2025.html
.
“and essentially all inflation forecasts for the United States went up materially as a consequence of the tariffs.”
Prog forecast it UP.
Reality is it’s DOWN.
Normalcy has been achieved.
.
Every excuse was used to artificially pump up the economy more than batters in baseball's steroid era. Just let savings and loans go at a sane market rate.
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