Kevin Hassett, director of the White House National Economic Council, discusses the growth of 3% of the US Economys in the second quarter and the Federal Reserve that leaves the interest rates unchanged on the evening operation.
President Donald Trump On Thursday, the chairman of the Federal Reserve Jerome Powell declined after the central bank left the interest rates on Wednesday, despite the repeated calls from the president for a rate reduction.
Trump took his truth to social platform to explode Powell, which he appointed as a FED chair in 2017, but has repeatedly criticized his leadership of the Federal Reserve In the years since then.
“Jerome ‘Too Late’ Powell has done it again !!! He is too late, and actually too angry, too stupid and too political, to have the task of Fed Chair. He costs our country trillions of dollars, next to one of the most incompetent or corrupt, renovations of a building (s) in the history of construction!
The FED on Wednesday held its benchmark interest stable for the fifth consecutive meeting, stating uncertainty about the impact of rates on inflation and consumer prices, as well as conditions on the labor market.
Chair Powell said during the press conference after the announcement that although inflation remains above the 2% longer goal of the FED, the labor market is approximately full work, so that the central bank remains in a good position to reduce rates if the economic conditions deteriorate.
He also noted that rates seem to increase consumer prices and seem to push the inflation data higher, although it is unclear what the long -term impact will be on the economy.
This is a developing story. Come back for updates.
