Analyst: As Tariffs Dim Economic Outlook, Trump Makes Powell a Scapegoat

BlockBeats News, April 18th, CNN analyst Stephen Collinson stated that on Thursday, Trump once again launched a fierce attack on Fed Chairman Jerome Powell, casting a further shadow over the already tumultuous financial markets and economic outlook that have been repeatedly hit by tariffs and trade wars. In the Oval Office, Trump told reporters, "If I wanted to, I would be able to fire him very quickly, I have no doubt about it. I am very unhappy with him."

Trump is furious at Powell's disregard for his repeated calls for a rapid rate cut. A rate cut could have made it easier for Americans to obtain loans to buy houses, boosted consumer confidence, and lifted the stock market. The Fed had cut rates three times last year when inflation was already close to the target level. However, against the backdrop of increasing economic uncertainty, the Fed paused this strategy, and this uncertainty has been further exacerbated by Trump's unpredictable leadership style in the less than three months since he took office.

On Thursday morning, Trump seemed to be annoyed by Powell's warning the day before. Powell had warned that tariffs could lead to inflation and higher unemployment rates, with part of the cost "being borne by the public."