Trump says “stupid” Powell, probably does not reduce “rates when the Fed session ends on Wednesday

With the federal reserve system, a few hours from his last interest rate decision, President Donald Trump was secured by Chairman Jerome Powell on Wednesday, calling him “stupid”, while he doubted the Central Bank.

In his latest series of attacks on Powell’s returns, Trump said the key level of Fed borrowing should be at least 2 percentage points.

“So we have a stupid man. Honestly, you probably won’t shrink today,” Trump said in makeshift comments near the White House. “There were 10 cuts in Europe, and we didn’t have them. And I suppose he is a political guy, I don’t know. He’s a political guy who is not a smart person but he is worth the country.”

The comments came approximately four hours before the Federal Open Market Committee, which set the rate, had to release its statement at interest rates, as well as an update where it sees a policy and several key economic indicators sent over the next few years.

Market prices indicate that this meeting is not likely to be reduced, and the next step is expected in September. Currently, the Fed is aiming at its borrowing level overnight in the range of 4.25%-4.5%.

Powell’s colleagues expressed hesitation about the adjustment of the rates with so many unanswered economy.

For the first, long -term influence of Trump tariffs is unknown. Inflation indicators change little because the tariffs were implemented in April, but various factors conspired to maintain the impact from duties in fear.

Trump, however, said higher rates cost “hundreds of billions” in financing, which can be saved when the Fed ease.

“If he is experiencing inflation, it’s ok. I understand it. I don’t think there will. There is still no,” Trump said.

“But now we have a person who just refuses to reduce the Fed rate, just refuses to do, and he is not a reasonable person,” the President added. “I don’t even think he’s so political. I think he hates me, but that’s okay.”

Trump and Powell recently met at the White House, though it was discussed about. Powell and his colleagues promised that they would not fade away from political pressure that has intensified to include other administration officials, including the Vice President of JD Vance.

This is conducting the news. Please update updates.