Trump's message to Fed, Powell
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President Trump repeated his call for the Federal Reserve to cut interest rates after April's inflation report was cooler than expected.
WASHINGTON, D.C. — Federal Reserve Chair Jerome Powell is expected to speak later today as the Fed concludes its latest two-day monetary policy meeting. His comments come as questions grow about the impact of U.S. tariffs and inflation on the economy.
President Donald Trump once again lashed out at Federal Reserve Chair Jerome Powell, calling him a "FOOL" a day after the central bank decided to hold interest rates steady.
Federal Reserve Chair Jerome Powell on May 7 said "the economy is doing ... But Wednesday, Powell reaffirmed the Fed's dual mandate to address rising unemployment and inflation. Powell signaled it will take an increase in either or both before it adjusts ...
The US Federal Reserve FOMC has decided to keep the interest rate unchanged at 4.25-4.5% range for the third time in a row. All 12 members of the panel voted in favour.
The Federal Reserve said Wednesday that it would keep interest rates steady at 4.25-4.5%, as the central bank continues to work to balance persistent inflation concerns with signs of a slowing U.S. economy.
POTUS renewed criticism of Fed Chair Chairman Jerome Powell on April 29, while defending his own economic policies, incuding tariffs, at a rally in Michigan.