The Trump administration has escalated its public criticism against Federal Reserve Chair Jerome Powell, with the White House distributing an op-ed on Thursday outlining reasons why Powell should not be renominated for a second term. The op-ed criticized Powell’s leadership, citing rising national debt and the Fed’s decision to cut interest rates not enough. This latest move comes after President Trump sent a handwritten letter to Powell two weeks ago, demanding lower interest rates to boost the economy.
The Trump administration has been increasingly vocal about its disapproval of Powell’s monetary policy decisions, particularly the recent interest rate cuts. The White House argues that the rate cuts were insufficient and have negatively impacted the economy. The op-ed’s publication coincides with Powell’s meeting with the Senate Banking Committee to discuss the Fed’s semi-annual monetary policy report. This escalation in tension highlights the growing rift between the Trump administration and the Federal Reserve, with potential implications for the future of U.S. monetary policy.

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