The head of the US Federal Bank (Fed), Jerome Powell, once again ruled that the reduction in interest rates could “wait”, disagreeing with other members of the institution and, above all, with President Donald Trump. “At the moment, we are in a good position to wait until we find out more about the possible evolution of the economy before we consider any adjustment of our (economic) policy,” Powell said during his hearing in the House Committee on Finance. Powell has been heavily criticized by Trump who accuses him of his “very restrictive” monetary policy. A few hours before his hearing in Congress, Trump described him as “stupid” and “dry head”. The US will pay the price “for its incompetence for many years,” he said. The US president also considered, in his scene on the Truth Social platform that “there is no inflation, the economy is wonderful” and that interest rates should be “at least two […]
Source: News Beast
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