Donald Trump has attacked the head of the US Central Bank for not reducing interest rates, saying that Jerome Powell’s “ending cannot be faster!”
The US President occupied social media to renew his criticism of Powell before the third interest rate this year by the European Central Bank (ECB).
On Thursday, it announced that it had reduced the key rate “due to rising trade tensions.
Trump, who nominated Paul as the Federal Reserve Chair in 2017 during his first term, wrote that he was “always too late and wrong” when he reduced the loan costs.
Trump added: “Oil prices are low, the grocery (even eggs!) Are down, and the United States is getting rich on revenue. Like the ECB, interest rates should have been reduced, but it should definitely reduce them now.”
According to official data, when oil prices have dropped since the beginning of the month, when Trump had unveiled his tariff government, according to official data, egg prices have risen to $ 6.23 per dozen.
Meanwhile, the BBC has found no evidence about Trump’s claims How much money the United States is collecting at prices.
When Trump attacked Powell, ECB President Christine Lagarde defended his US counterpart.
“I have a lot of respect for my friend and respected colleague Jay Powell,” said Lagarde, he discussed the decision to reduce European interest rates from 2.5 % to 2.25 %.
“We have a solid, stable relationship between central bankers.”
After the pavilion on Wednesday, the president attacked that Trump’s prices would affect US economic growth and prices for consumers would increase.
He said the import tax is much higher than expected by the bank, which is ahead of its estimates.
The global stock markets have caused a riot as investors reacted to prices and the trade war between the United States and China increased.
Mr Paul said: “The increase in tariffs announced so far is much larger than the expected.
“The same is true of economic effects, which will include inflation and gradual growth.”
The US president has said that prices will increase US manufacturing and jobs, but economists have warned that they will take the risk of increasing inflation. Trump campaigned to reduce inflation.
It is Not the first time Trump has targeted PaulWhom he nominated to replace Janet Elin, which the president accused of keeping interest rates too low.
The president’s election promises include low interest calls to provide relief to lenders.
Since returning to office, Trump has launched a trade war by introducing a 10 % tax on goods imported to the United States from the majority of countries.
They have increased more taxes with China by putting 145 % tax on Chinese goods, though there is some exemption for smartphones. China has targeted 125 % prices on US products. The White House said on Wednesday that when new rates are added to the current people, some Chinese goods can reach 245 %.
Mr Paul said that despite uncertainty and rumors in the markets, “the US economy is still in a solid position”.
Right now, he said, the feed can keep its benchmark interest rate stable “waiting for more explanation before considering any adjustment”.
The Fed Benchmark interest rate is currently between 4.25 % and 4.5 %, where it has been going on from December to December after a series of decline in the end of last year.
If the prices advanced inflation, as many economists are expected, they can decide to stop or even increase feed rates. On Wednesday, traders have laid down their terms that will continue to reduce rates this year.
But the feed has the mandate of keeping stable prices as well as the maximum job.
If this is caught between inflation and unemployment, Mr Paul said, “We will consider how far the economy is from every purpose” and then look at “potentially different time horizons” to control prices and reduce the unemployment rate.
He added, “As this great ferrous Beuler of Chicago notes,” life moves very fast “.
