The complaint would be for the works faced in the Federal Reserve building. Background is the pressure for the entity to lower interest rates.
The president of the United States (USA), Donald Trump, threatened This Tuesday, allowing a “Important demand” against the president of the Fed, Jerome Powell, for the works in the Federal Reserve building. The head of the US Central Bank is the object of pressure from the Republican Government for refusing to lower the interest rates.
Trump is more impatient every day with the influential monetary institution and even several times insulted Powell, whom he himself appointed for his first term (2017-2021). He came to ask the governors of the Fed to dismiss him and in July inspected the renewal works of the headquarters of the institution in Washington, which he considers too expensive.
“I consider allowing an important demand against Powell Due to his horrible and extremely incompetent work in the management of the construction of the Federal Reserve buildings, “Trump warned on Tuesday on his social truth platform.
Julio’s visit to the place gave rise to a cross between them. Trump read a document that indicated that the cost of building renovations amounted to Au $ S3.100 million. Powell denied it and assured that the Federal Reserve estimated at US $ 2,500 million. “U $ 3,000 million for a job that should have cost $ 50 million,” Trump insisted on Tuesday.
Donald Trump and the pressure to the Fed for the rates
Although the republican president quickly exhibited the controversy background. “Jerome ‘too late’ Powell must lower the rates already (…) the damage he has caused when he always arrives too late is incalculable,” he added and labeled it as a “loser.”
It happens that Trump has long pressed for the Fed to accelerate rates to put it in tune with its commercial war policy and reimpulse economic activity. On the other hand, the conduction of the entity was cautious here and warned that the inflationary effects of the tariff policy could take time to manifest.
Powell, one of the twelve members of the Federal Reserve Interest Committee, must preside over the institution until May 2026, but could remain as a governor for a longer time, until January 2028. Trump wants to appoint someone closer to his ideas.
This Tuesday, it was known that July inflation in the US was 2.7%, a better fact than expected. This novelty Increased the expectations of Wall Street investors that the FED finally make a rate cut at its September monetary policy meeting.
Source: Ambito
