Trump once again criticized Federal Reserve Chair Jerome "Too Late" Powell today (Beijing Time July 1). Trump wrote, "Jerome 'Too Late' Powell and his entire board should be ashamed for allowing this to happen in America. They hold one of the easiest yet most respected positions in the United States, but they have failed—and are still failing. If they did their job well, our country could save tens of billions of dollars in interest costs. The committee just stood by, so they are also to blame. We should be paying 1% or even lower interest!"
[Clever] Comments: This time, Trump once again directed his "firepower" at Federal Reserve Chair Powell, clearly assigning the blame. He gave Powell the nickname "Too Late," which is quite a move. Saying that the Federal Reserve chairs are "the easiest and most respected" position is not entirely wrong, as they are indeed the big shots controlling the U.S. financial lifeline. However, Trump then turned around and accused them of "failing" and "still failing." He claimed that if they had done their job properly, the U.S. could have saved tens of billions in interest, which sounds more like a "backseat driver" kind of complaint. The independence of the Federal Reserve is well known, and Trump's remarks seem more like trying to find a scapegoat for the "holes" in his economic policies.
Original article: https://www.toutiao.com/article/1836397417384003/
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