New episode of the open war between Donald Trump and Jerome Powell, the president of the FED, the American Central Bank.
The US president who has multiplied the attacks against the head of the independent institution for months accuses the latter of not reducing interest rates quite quickly, on Tuesday, August 12, the deal with the “loser”.
Donald Trump intends to dispute the decisions of the Central Bank before the courts and the cost of renewing its headquarters.
“Jerome ‘Too Late’ Powell must now reduce rates,” the US president wrote in his social network of truth.
“Clear incompetence”
“Fortunately, the economic situation is so favorable that we have put Powell and his (monetary policy) Complacente on the field. However, plan to authorize a large -scale legal action against Powell due to his bad work and flagrant incompetence,” added the white house tenant.
Donald Trump has been demanding out loud for several months A drop in these rates to support growth And lighten the cost of debt. After the last announcement of the maintenance of the rates, the US president estimated that Jerome Powell arrived “late, and in reality, too angry, too stupid and too political to do this job.”
Until now, the Federal Reserve adopts a prudent monetary policy and refuses to lighten its rates too fastthat are at a level twice higher than in the EUROEANA Union. She fears that a decrease can contribute to climbing prices.
Inflation tends to increase slightly in recent months (+2.7% for a year in July, stable for a month) and the new customs tariffs are likely to increase even more the cost of imports.
At the same time, American GDP increased by 3% in the second quarter, in annualized rhythm.
The end of the mandate of Jerome Powell, who remembers it was designated by Donald Trump, ends next May.
Source: BFM TV
