WASHINGTON (AURN News) — For families watching interest rates, home prices and inflation, the clash between President Donald Trump and the Federal Reserve just grew louder — and more personal.
On Thursday morning, Trump tore into Federal Reserve Chair Jerome Powell on his Truth Social platform, calling him “TOO ANGRY, TOO STUPID, & TOO POLITICAL” after Powell announced the Fed would hold interest rates steady.
The post followed Powell’s remarks at the Federal Reserve’s monthly press conference Wednesday, where he said the Federal Open Market Committee had decided to leave its benchmark rate unchanged. The goal, Powell said, was to remain responsive to evolving conditions.
“In support of our goals, today the Federal Open Market Committee decided to leave our policy interest rate unchanged,” Powell said. “We believe that the current stance of monetary policy leaves us well positioned to respond in a timely way to potential economic developments.”
Powell noted that Trump’s tariffs were beginning to influence prices for some goods but said it was unclear whether those effects would be temporary or long-lasting. “A reasonable base case is that the effects on inflation could be short-lived … but it is also possible that the inflationary effects could instead be more persistent, and that is a risk to be assessed and managed,” he said.
Trump also criticized the ongoing renovation of the Fed’s Washington headquarters in his post, calling it “one of the most incompetent, or corrupt, renovations of a building(s) in the history of construction.”
While some presidents have disagreed with Federal Reserve decisions, personal attacks on the Fed chair by a sitting president are highly unusual. The central bank operates independently, designed to set monetary policy without direct political influence.
Trump’s remarks come as the Fed continues to manage inflation and evaluate the impact of tariffs on the broader economy.
Click play to listen to the AURN News report from Jamie Jackson:
The post Is Trump’s Clash With the Fed Putting Your Wallet at Risk? appeared first on American Urban Radio Networks.
