Trump lashes out at Powell over rate decision with stream of insults
Summary
President Trump criticized the Federal Reserve for not lowering interest rates and attacked Fed Chair Jerome Powell with insults. The Fed decided to maintain interest rates between 4.25% and 4.5%, which Trump believes should be much lower.Key Facts
- The Federal Reserve kept interest rates unchanged at 4.25% to 4.5%.
- President Trump wants interest rates to be 1% or lower.
- Trump expressed frustration with Fed Chair Jerome Powell on social media.
- Trump accused Powell of inefficient and potentially corrupt renovations at the Fed's headquarters.
- The administration has mentioned cost issues in the $2.5 billion renovation as a reason to consider firing Powell.
- Trump and Powell toured the Fed's headquarters together recently, highlighting disagreements over renovation costs.
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