President Donald Trump has escalated his criticism of Federal Reserve Chair Jerome Powell, demanding his termination over high interest rates. Trump argues that Powell's decisions have been delayed and incorrect, particularly as mortgage rates remain elevated, affecting housing affordability. While Powell maintains that policy should be based on data, Trump's comments reflect a continued tension between the White House and the Fed, especially concerning economic influences after Powell's recent remarks on tariffs affecting inflation and growth.
"Powell's termination cannot come fast enough!" wrote Trump in a post, accusing Powell of being "TOO LATE AND WRONG" on rate decisions."
Powell has also repeatedly argued that monetary policy should be guided by economic data, not political considerations, and sought to maintain the central bank's independence from even the appearance of White House influence.
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