Trump backtracks on Fed Chair Powell

In a post on his Truth Social account, Trump targeted Powell, whom he has criticized for not lowering interest rates.

In the post, where he used terms such as "fool," "moron," and "idiot" to describe Powell, Trump stated, "I don't know why the Board doesn't just get rid of this total and complete moron. Maybe, just maybe, I will have to change my mind about firing him. But regardless, his term is ending soon."

Arguing that lowering interest rates would save the U.S. up to 1 trillion dollars a year, Trump noted the following:

 "I am fully aware that my harsh criticism of him makes it harder for him to do what he needs to do, which is to lower interest rates, but I have tried it in different ways."

Trump, who has long directed harsh criticism at Fed Chair Powell, had stated in a speech at an event held at the White House last week that he would not remove Powell from office.

Stating that they could not convince Powell to cut interest rates, Trump had said, "Fake news says, 'It would be very bad if you fire him.' I don't know why it would be bad, but I will not fire him."

News Source: AA