Trump's Tussle with the Fed: A Call for Control

President Donald Trump has criticized Federal Reserve Chair Jerome Powell, urging a substantial cut in interest rates. The Fed held rates steady, prompting Trump's disapproval. He suggested the board take over if Powell refuses to lower rates, highlighting a historic dissent within the Fed.

President Donald Trump has issued a fresh attack on the Federal Reserve, specifically targeting its Chair, Jerome Powell. In a public statement, Trump called for a significant reduction in interest rates following the Fed's decision to keep them unchanged.

Trump expressed his discontent with Powell's resistance to rate cuts, labeling him a 'stubborn moron' and suggested that the Federal Reserve Board should intervene if Powell continues to refuse necessary monetary policy changes. This comes after a split vote within the Fed, a rarity not seen in over three decades, underscoring the division within the central bank.

In a subsequent post, Trump emphasized the strength of the dissents, predicting them to grow stronger. The Federal Reserve's board, nominated by the president and confirmed by the Senate, now faces increased pressure from the executive branch regarding the direction of U.S. monetary policy.

(With inputs from agencies.)