U.S. President Donald Trump on Friday lashed out at Federal Reserve Chairman Jerome Powell, whom he called a “stubborn mule” and a “stupid person” for his refusal to lower interest rates.
“Without us, everything falls apart. In a way, we control the world. But we have a stubborn mule and a stupid person who is making a serious mistake. He is making a mistake,” held the president in a conversation with journalists from the Oval Office of the White House.
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In his words, Powell’s refusal “has lasted for years.” And as the debt is at stake, he has ordered his “people” “not to hire him for more than nine months, to get rid of him.” “And whoever is there, will lower the rates. If I think someone is going to keep the rates as they are, I’m not going to put him in.
I’m going to put someone who wants to lower them. There are many”, he assured.
That measure, he assured, would have support in public opinion, because “in many business programs” it has been said that “Trump is right” and that the Federal Reserve “should lower rates.” “Think about it: we have a great country. We are making a lot of money. We are receiving billions of dollars in
tariffs“, he affirmed.
To support his appreciation, he alluded to “15 billion dollars that want to be invested here” and stated that this amount will increase in a relatively short time. “There has never been anything like this. We have factories that are being installed, we have automotive plants that are being installed. Everyone wants to be part of the U.S.”, he concluded.
Crashes and Warnings
Last April, Trump
attacked Powell and accused him of harming the economy. “There can almost be no inflation, but there can be an economic slowdown unless ‘Mr. Too Late’,
a big loser, lowers interest rates now. Europe has already lowered them seven times. Powell has always been late,” he wrote then on his Truth Social network.
For his part, Powell
warned in February 2024 that the U.S. public debt was growing at a faster rate than the economy. “The U.S. federal government is on an unsustainable fiscal path. And that just means that the debt is growing faster than the economy. Therefore,
it is unsustainable. I don’t think that’s controversial at all,” he stated in an interview with CBS.
Commentators such as magnate Elon Musk –who served in the Trump Administration– or investor Robert Kiyosaki believe that the North American nation is heading towards a dangerous point in its debt levels. Musk
asserted that
the country “is on the fast track to debt slavery”, while Kiyosaki
stated that the U.S. is sitting “on a time bomb.”
