Summary
- Donald Trump was reported to have sharply criticized Fed Chair Jerome Powell while citing recently released inflation data.
- Trump said the latest inflation report provided an opportunity for a rate cut, but that Powell is not doing his job properly.
- The remarks were reported to suggest that, amid market focus on the timing and magnitude of rate cuts, debate over the Fed’s policy decisions and alleged political pressure could resurface.
U.S. President Donald Trump, citing recently released inflation data, issued a blistering critique of Federal Reserve Chair Jerome Powell.
According to Walter Bloomberg, a breaking-news account, on the 13th (local time), Trump said, "This inflation report gives Chair Powell an opportunity to cut rates," adding, "Yet Powell is not doing his job properly."
He went on to say, "Powell is incompetent or corrupt," in a direct attack. Trump also added, "It is hard to say Powell is doing a very good job as Fed chair," voicing broader dissatisfaction with the Fed’s conduct of monetary policy.
The remarks come as markets are increasingly focused on the timing and magnitude of potential Fed rate cuts, signaling that debate over the Fed’s policy decisions and accusations of political pressure could again come to the fore.
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