US: Trump- Fed 'Powell's Termination Cannot Come Fast Enough!'

President Donald Trump has lashed out at the chair of the Federal Reserve, Jerome Powell, via his Truth Social platform regarding perceived sluggishness in cutting interest rates. Trump: "The ECB is expected to cut interest rates for the 7th time, and yet, “Too Late” Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete “mess!” Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!"

• Trump's comments are the most vocal criticism of the Fed chair since the president's return to the White House, and come a day after Powell himself highlighted the difficulty the Fed faces in setting rates in the current environment of tariff escalation and pauses.
• As MNI's Policy team reported on 16 Apr (see 'MNI: Powell Says Fed In Wait-And-See Mode On Trade Worries'), "Federal Reserve Chair Jerome Powell said Wednesday the FOMC should wait before making any interest rates moves given that President Donald Trump's high tariffs could raise both inflation and unemployment, putting the Fed in a "challenging scenario." "For the time being, we are well positioned to wait for greater clarity before considering any adjustments to our policy stance. We continue to analyze the incoming data, the evolving outlook, and the balance of risks," he said in a speech prepared for the Economic Club of Chicago."