Trump Criticizes Fed Chair Powell, Accuses Him of Political Bias

Former President Donald Trump accuses Jerome Powell of favoring Democrats, vows not to reappoint him if reelected.

Former President Donald Trump criticized Federal Reserve Chair Jerome Powell, accusing him of being 'political' and suggesting Powell might lower interest rates to help Democrats in the upcoming elections.
Trump stated he would not reappoint Powell as Fed Chair if reelected, expressing dissatisfaction with Powell's handling of interest rates and accusing him of favoring Democratic interests.
Powell, appointed by Trump in 2017 and reappointed by Biden in 2021, has maintained the Fed's independence, emphasizing that decisions are based on economic data rather than political considerations.
Despite Trump's criticisms, the U.S. economy has shown resilience, with inflation decreasing and the job market remaining strong.
Trump's comments reflect ongoing tensions between him and Powell, dating back to Trump's presidency when he frequently criticized the Fed's interest rate decisions.