Overview

• Vice President JD Vance criticized Federal Reserve Chair Jerome Powell, labeling him a 'nice guy' but asserting he has been 'wrong about almost everything.'
• Vance argued Powell acted too late on inflation during the Biden administration and on addressing trade deals that harm U.S. wealth.
• President Trump reinforced his discontent with Powell, describing meetings with him as 'like talking to a wall' and nicknaming him 'Too Late.'
• The Federal Reserve recently decided to maintain interest rates at 4.25%–4.5%, citing a solid labor market, low inflation, and tariff uncertainties.
• Powell, first appointed by Trump and reappointed by Biden, defended the Fed’s cautious approach, emphasizing the need for patience given current economic conditions.