“Jerome ‘too late’ Powell must already go down the rates,” Trump wrote on his social media platform.
Trump is more impatient every day with the influential monetary institution and has insulted Powell several times, whom he himself appointed for his first term (2017-2021).
Ask the governors of the Fed to dismiss him. In July he inspected the renewal works of the institution’s headquarters in Washington, which he considers too expensive.
“I consider allowing an important demand against Powell due to his horrible and extremely incompetent work in the management of the construction of the Federal Reserve buildings,” Trump wrote on Tuesday on his social Truth platform.
The July visit The place gave rise to an unusual scene: Trump and Powell, one next to the other, with safety helmets.
Powell shook his head when Trump read a document that indicates that the cost of renovations has risen to 3,100 million dollars.
Then he corrected the president. The Federal Reserve estimates the invoice at 2.5 billion dollars.
“Three billion dollars for a job that should have cost 50 million dollars,” Trump insisted on Tuesday.
Powell, one of the 12 members of the Federal Reserve Interest Committee, must preside over the institution until May 2026, but could remain as a governor for a longer time, until January 2028.
Trump wants to name someone closer to his ideas.
Fed rates cut in September is aimed after IPC data
A moderate rise in consumer prices last month leaves the arguments in favor of a cut of the interest rates of the Federal Reserve next month, the futures operators linked to the official interest rate of the Fed were bet on Tuesday.
He consumer price index rose 2.7% in July With respect to the previous year, according to the Department of Labor in its monthly report, at the same rate as in June and a little below the 2.8% expected economists.
The futures of the Fed funds continued to bet on features of fees in September and December.
With Reuters and AFP information
