President Donald Trump went on an absolute rampage Wednesday, ripping into Federal Reserve Chair Jerome Powell for what he called a disastrous failure in managing inflation 📉 and botching bank regulations 🏦💰.
The heated exchange came just two hours after the Fed ignored Trump's demand for interest rate cuts and instead decided to hold rates steady 🚫. Powell stood firm, saying there was no need to rush any changes—but Trump wasn’t having it. 😤
🔥 Trump Slams Powell’s “Terrible Job” & Vows to Cut Red Tape! 🏛️✂️
In a blistering post on Truth Social 📱 on Jan. 29, Trump didn't hold back:
🗣️ “Jay Powell and the Fed failed to stop the problem THEY created with inflation. I will fix it by:
✅ Unleashing American energy production ⛽🚀
✅ Slashing unnecessary regulations ✂️📉
✅ Rebalancing international trade 🌍📊
✅ Reigniting U.S. manufacturing 🏭🔥
Trump blamed Powell for pushing the U.S. into “the worst inflation in the history of our country” 📉💸. He also accused the Fed of wasting time on “DEI, gender ideology, green energy, and fake climate change.” 🌍🚫
But Trump wasn’t just mad about inflation—he went after Powell’s banking policies, too! 💥 He promised that under new Treasury Secretary Scott Bessent, the administration would slash red tape and expand lending to businesses and everyday Americans. 💵👨👩👧👦
🎤 Powell’s Cold Response: “No.” ❄️😶
At a press conference, Powell was bombarded with questions about Trump’s brutal attacks 🎙️. His response? Ice cold. 🧊
🗣️ Reporter: “Have you spoken to Trump about this?”
👨💼 Powell: "No."
Powell dismissed the criticism, calling it “inappropriate” to engage with Trump’s comments. 😬
📉 Trump & Powell: A Long-Running Feud! 💥⚡
Trump actually picked Powell as Fed chair in 2018, but their relationship quickly soured 🤝➡️❌ when Powell refused to cut rates.
During his 2024 campaign, Trump made one thing crystal clear:
🚨 “I will NOT reappoint him when his term ends in 2026!” 🚨
But Powell isn’t backing down. He told reporters the economy is “in a good place” 📊 and that keeping rates steady is the right move. Powell’s strategy? Slow and steady wins the race. 🏁🐢
❓ Should the President Have More Power Over Interest Rates? 🤔📊
Trump thinks so. In September 2024, he said:
🗣️ “I think I know interest rates much better than they do.”
So, should the president have more control over the Fed? Or should the Fed stay independent? 🔥 Drop your thoughts below! 👇💬
This economic battle is FAR from over! 💥🇺🇸 Stay tuned for more updates! 🚀