The president of the federal reserve, Jerome Powell, rejected the political pressure of the White House on Wednesday, telling journalists that President Trump “does not affect our work at all” and that “I have never asked for a meeting with no president, and I will never do it”.
The president of the Central Bank and his colleagues have also clearly indicated their Words and actions that they have not yet been aligned with Trump calls at lower rates above all economic slowdown.
Fed Policymers voted unanimously To maintain the FED's reference rate of reference in the range of 4.25% to 4.5%, a brand reached at the end of 2024 after having reduced the rates of a complete percentage point of last fall.
Find out more: How the decision of the Fed rate affects your bank accounts, loans, credit cards and investments
The Fed, said Powell, does not “need to be in a hurry” because he assesses how Trump's prices will affect employment and inflation and if Speak with America's largest business partners Change economic perspectives.
“I don't think we can say in what direction it will shake,” He told journalists At a press conference which followed the decision of the Fed rates.
Nevertheless, Powell clearly indicated that he was concerned about the effect that Trump's prices could have: “My instinct tells me that uncertainty for the path of the economy is extremely high.”
Wednesday's decision to keep the stable rates has taken place after Trump's public campaign in recent weeks to urge the Fed and Powell to reduce rates while its administration is deploying a series of aggressive prices on goods imported from major business partners.
In doing so, the president also launched a series of insults to Powell, calling him “total stiff” and “major loser” while accusing him of being late to act.
“There can be a slowdown in the economy unless Mr. Loser, a large loser, reduces interest rates, now,” the president published on his social media website, Truth Social, April 21, saying that “the” pre -empty reductions “of interest rates are requested by many.”
He also said that “Powell's termination cannot come quickly enough” before clarifying later that he did not intend to withdraw Powell before his mandate was in May 2026.
Find out more: What control does the president have on the Fed and interest rates?
Powell was asked about his reaction to Trump saying he would keep Powell in place, and replied that he had nothing more to say. Powell previously declared that he intended to serve his mandate and that his dismissal was not authorized by law.
