President Donald Trump escalated criticism of Federal Reserve Chair Jerome Powell, saying Powell is keeping interest rates too high, and suggested he may soon call him. During an Oval Office signing ceremony on Wednesday evening, Trump accused Powell of “playing politics” by delaying cuts that might benefit Trump’s administration. The Fed Chair has repeatedly denied any political influence on Fed decisions. Although Trump softened his stance Tuesday after advisors warned of legal and economic fallout from firing Powell, he resumed attacks Wednesday, labeling the Fed chief “historically late.” Trump nominated Powell in 2017 but has publicly clashed with him since. The next Fed policy meeting is in May.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Donald Trump escalated criticism of Federal Reserve Chair Jerome Powell,
00:06saying Powell is keeping interest rates too high and suggested he may soon call him.
00:10Speaking during an Oval Office signing ceremony on Wednesday evening,
00:13Trump accused Powell of playing politics by delaying cuts that might benefit Trump's administration.
00:19The Fed chair has repeatedly denied any political influence on Fed decisions.
00:23Although Trump softened his stance Tuesday after advisors warned of legal and economic fallout
00:27from firing Powell, he resumed attacks Wednesday, labeling the Fed chief historically late.
00:33Trump nominated Powell in 2017, but has publicly clashed with him since.
00:37The next Fed policy meeting is in May.
00:39For all things money, visit Benzinga.com slash GSTV.