Posted on 07/31/2025 11:47:12 AM PDT by E. Pluribus Unum
The president clamors for the Fed to lower interest rates because it serves his wild spending.
No one likes to be told no, especially Donald Trump. To refuse the president is to invite a battle that he will pursue to the bitter end. So the Federal Reserve’s decision on Wednesday to leave interest rates unchanged, at 4.25 percent to 4.5 percent, was hardly a routine vote. It was a loud no from the majority of voting members — including the president’s designated nemesis, Fed Chair Jerome H. Powell — to Trump’s demand that “interest rates have to come down.”
The retributive president blasted Powell on Thursday morning, posting online that the Fed chair is “TOO LATE … TOO ANGRY, TOO STUPID, & TOO POLITICAL.” Trump for months has been openly contemplating Powell’s dismissal before his term ends next May. Such a move, unprecedented and of questionable legality, would also risk destabilizing the U.S. economy, possibly making the market reaction to Trump’s “reciprocal” tariffs in April look like a 0.1 on the Richter scale.
Trump’s outbursts against Powell reliably prompt dark warnings about politicizing the Fed and compromising the central bank’s independence. Yet the entanglement of politics and monetary policy in much of the West has become the norm in recent years, even if it’s forbidden for politicians and bankers to admit it. In typical Trumpian fashion, the president is bringing this blurring of roles and remits to light in blunt and aggressive style. It’s cause for great concern but also an opportunity to address how the West’s financial institutions badly lost their way.
A lot has changed since Trump was last in office. When he nominated Powell in 2017 for the top job, interest rates were historically low, and there was a broad (and...)
(Excerpt) Read more at washingtonpost.com ...
I need a shower after reading that screed.
$350 billion? The best numbers I have seen indicate it is closer to $60 billion.
These numbers are not so easily discerned.
Powell can’t even manage the cost of a building renovation YET he is in charge of managing the entire US economy GIVE ME A DAMN BREAK he needs to go!!! FIRE HIS ASS that little know nothing twerp is giving Trump and the American people the middle finger!!!
The President cannot fire the fed.
The Fed was political from day one.
He can for cause.
As Hitchcock would say, "Perish the thought!"
An unbiased source.
He had to leave interest rates where they were, to show the mean, spiteful, angry, childish President that he’s not the boss of Powell.
The Washington post couldn’t write a neutral article if it tried
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