Trump criticizes the Fed again

After releasing a slightly higher-than-expected inflation report last night, Trump and his allies couldn't sit still and seized the opportunity to criticize the Federal Reserve, saying that the rate cut last month was too big! "The fact is that the Fed cut interest rates a little too quickly," he said during an appearance at the Detroit Economic Club. "The rate cut was too big, and everyone knows that this is a political strategy they are trying to take before the election." He added. This is Trump's "most direct criticism" of Federal Reserve Chairman Powell in months.

Previously, he often focused on blaming the economic downturn rather than directly criticizing the central bank. "This is a completely political decision, and inflation has begun to rise," Trump said on Thursday, while also blaming high interest rates for "really killing the American dream of young people." In August, Trump said he wanted to have a "say" in setting interest rates, raising the possibility that the Republican candidate might seek to weaken the independence of the Federal Reserve if he wins in November. The pro-Trump super political action committee "Make America Great Again" also issued a statement on Thursday saying that Thursday's inflation data may be part of the "Federal Reserve's worst nightmare." The so-called Super PAC (Super Political Action Committee) is a new American political organization that emerged in 2010. It aims to influence election results by raising and spending large amounts of money. In simple terms, it is the main channel for big donors to donate money to candidates during the US election process.