Analyst: Tariffs dim economic outlook, Trump sees Powell as scapegoat

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MarsBit
04-18
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Mars Financial News: CNN analyst Stephen Collinson stated that Trump once again fiercely criticized Federal Reserve Chairman Jerome Powell on Thursday, adding further gloom to financial markets and economic prospects already battered by tariffs and trade wars. Trump told reporters in the Oval Office, "If I want him to leave, he'll be gone quickly, believe me. I'm very dissatisfied with him." Trump was angry that Powell ignored his repeated calls for rapid interest rate cuts. Such cuts could have made it easier for Americans to obtain home loans, boost consumer confidence, and drive up the stock market. The Federal Reserve cut rates three times last year when inflation was near its target level. However, amid growing economic uncertainty - which has been further exacerbated by Trump's unpredictable leadership style since taking office less than three months ago - the Fed paused this strategy. On Thursday morning, Trump appeared irritated by Powell's warning from the previous day, in which Powell stated that tariffs could lead to inflation and higher unemployment rates, with part of the cost "to be borne by the public".

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