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Saturday, February 8, 2025

Donald Trump attacks the Fed. He did not like the decision on interest rates

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Donald Trump hits the Fed: The President of the United States was accused by the American Central Bank and its president Jerome Powell for creating inflation. In the post on the Truth Social platform, he wrote that “They failed to stop the problem they created with the help of inflation” and did “terrible work in the field of banking regulations”. Last week, Trump during the remote speech at the World Economic Forum in Davos said that he would demand a “immediate reduction of interest rates”.

Fed pauses with cuts: The president's entry appeared two hours After the Fed declared a decision on feet Members of the Fomc Federal Committee (FOMC, equivalent to our Monetary Policy Council) unanimously decided keep them unchanged – as expected. The main foot remained in the range of 4.25-4.50 percent. Earlier, at three subsequent meetings, Fed cut his feet. First in September by 50 base points, then in November and December 25 points. Until September last year, for over a year, feet in the US have been at the highest level for 23 years. Powell said on Wednesday that the Fed does not have to hurry with further discounts.

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Trump does not like Fed's independence: The president of the American Central Bank emphasized the importance of its independence. The same says Scott Besset, who has just been approved as the new secretary of the treasury. Anyway, Jerome Powell, the president of the Fed, was also nominated during the previous term of Trump. The president then regretted this choice and does not intend to nominate Powell again after the current term of office in 2026. Donald Trump thinks that US President should affect the decisions of the central bank.

Read also: Billionaire with a key position. He once worked for Soros, then he was delighted with Trump

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Sources: Reuters, CNBC



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