Trump’s Fury Towards Fed Chairman Jerome Powell: Impacts on Financial Markets and Economic Outlook

On April 18th, COINOTAG News reported that CNN analyst Stephen Collinson highlighted a renewed attack by former President Donald Trump against Federal Reserve Chairman Jerome Powell. This confrontation has intensified the ongoing volatility in the financial markets, which are already grappling with the adverse impacts of trade wars and tariffs. During a press briefing in the Oval Office, Trump expressed his discontent regarding Powell’s refusal to implement a rapid rate cut, asserting, “If I wanted to, I would be able to fire him very quickly.” This tension stems from Trump’s desire for lower interest rates, which could enhance loan accessibility for homebuyers, bolster consumer sentiment, and invigorate the stock market.

Last year, the Federal Reserve lowered interest rates three times despite inflation nearing target levels. However, the current climate of economic uncertainty, exacerbated by Trump’s unpredictable governance approach, has led to a pause in such strategies. On the previous day, Powell cautioned that ongoing tariffs could result in inflationary pressures and increased unemployment, indicating that the public would bear part of the economic burden.