Trump fiercely criticizes Powell for 'interest rate freeze'... "Failure to address inflation"

Criticism Posted on Social Media Right After Fed Rate Freeze
"Powell Failed to Address Inflation... Bank Regulation Also Terrible"

U.S. President Donald Trump harshly criticized Jerome Powell, Chair of the U.S. Federal Reserve (Fed), and the Fed for "failing to prevent the inflation problem" after they decided to keep the benchmark interest rate unchanged.

On the 29th (local time), President Trump stated on his social media platform Truth Social, which he created, "If the Fed had spent less time on diversity, equity, and inclusion (DEI), gender ideology, green energy, and fake climate change, inflation would never have occurred."

He claimed that "we have suffered the worst inflation in our country's history because of the Fed" and added, "The Fed has also done a terrible job regarding bank regulation."

President Trump's remarks came immediately after the Fed decided to keep the interest rate at 4.25-4.5% annually, despite his demands for a rate cut. Earlier, on the 23rd, during a virtual speech at the World Economic Forum (WEF, Davos Forum) held in Davos, Switzerland, he said he would "demand an immediate rate cut" from the Fed and emphasized that "interest rates should be lowered globally."

Through Truth Social, President Trump emphasized, "I will do more than just stop inflation by revitalizing U.S. energy production, deregulation, readjusting international trade, and reviving American manufacturing," adding, "I will make our country strong again financially and in other ways."

Meanwhile, Chair Powell, at a press conference held immediately after the rate freeze, described President Trump's demand for a rate cut as "an inappropriate comment." However, he stated, "The public should be confident that the Fed will continue to do its job," indicating that despite pressure from the White House to lower rates, the Fed intends to maintain the independence of its monetary policy.