According to a May 8 local report by Reuters, US President Trump criticized Federal Reserve Chairman Powell as a "fool (fool)" on the same day for refusing to cut interest rates.
In the previous weeks, Trump had repeatedly attacked Powell, first threatening to fire him, then retracting that threat, and subsequently posting multiple times on social media to criticize Powell and calling him "a major loser (a major loser)."
However, on May 7, the Federal Reserve did not announce an interest rate cut. Trump clearly expressed his dissatisfaction with this. He said that cutting interest rates is like "jet fuel" for the economy, but Powell does not want to fuel the US economy. He also complained that Powell "does not love me."
In fact, Powell was appointed as the chairman of the Federal Reserve by Trump during his first term, and was reappointed for four years during the Biden administration. During his first term, Trump had expressed dissatisfaction with Powell's monetary policy. However, Powell stated that he has never sought, nor will he seek, to meet with the president. Trump said that communicating with Powell is like "talking to a wall."
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