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Donald Trump lashed out at Jay Powell on Thursday, saying the end of the Federal Reserve chair’s tenure “cannot come fast enough”.
The US president said in a post on his Truth Social platform that Powell was “always TOO LATE AND WRONG. He added that the Fed chief “should have lowered Interest Rates, like the [European Central Bank], long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!”
The ECB is expected to lower interest rates on Thursday amid concerns that Trump’s trade war will hit growth.
In a speech on Wednesday, the Fed chair warned that the US president’s sweeping tariffs would lead to slower economic growth and higher inflation. The US central bank’s next meeting is in May.
Powell’s term is due to expire in May 2026.
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