President Donald Trump blasted the Federal Reserve for creating the inflation crisis and then failing to “stop the problem” by cutting interest rates.
The president unloaded on the central bank and Chairman Jerome Powell for focusing on “DEI, gender ideology, ‘green energy, and fake climate change” rather than addressing inflation. His social media rebuke came after the Federal Reserve chose to hold interest rates steady on Wednesday rather than make a cut as Trump had wanted.
“Because Jay Powell and the Fed failed to stop the problem they created with Inflation, I will do it by unleashing American Energy production, slashing Regulation, rebalancing International Trade, and reigniting American Manufacturing, but I will do much more than stopping Inflation, I will make our Country financially, and otherwise, powerful again!” Trump wrote on Truth Social.
Trump just SCORCHED Jerome Powell and the Federal Reserve. pic.twitter.com/dE9PnJ4MBO
— Gunther Eagleman™ (@GuntherEagleman) January 29, 2025
“The Fed has done a terrible job on Bank Regulation,” Trump’s post continued. “Treasury is going to lead the effort to cut unnecessary Regulation, and will unleash lending for all American people and businesses. If the Fed had spent less time on DEI, gender ideology, ‘green energy, and fake climate change, Inflation would never have been a problem. Instead, we suffered from the worst Inflation in the History of our Country!”
The president has not held back his criticism of the Fed or Powell and recently spoke again about how the U.S. was wealthier prior to 1913 and the creation of the central banking system.
Trump again hints at abolishing the income tax and mentions how wealthy the US was prior to 1913 which was when the Federal Reserve was founded by the cabal of banksters…. pic.twitter.com/37OATi017X
— Blondelady2024 (@arva61138) January 28, 2025
“The Fed’s decision leaves the benchmark federal funds rate at a range of 4.25% to 4.5% and follows three consecutive interest rate cuts at the central bank’s most recent meetings — including a 50-basis-point cut in September as well as a pair of 25-basis-point reductions in November and December,” Fox Business reported.
“Recent indicators suggest that economic activity has continued to expand at a solid pace,” members of the Federal Open Market Committee (FOMC) wrote. “The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid. Inflation remains somewhat elevated.”
BREAKING: The Federal Reserve holds interest rates steady, defying pressure from Pres. Trump to lower them.
The decision to maintain the current level pauses a series of three consecutive interest rate cuts imposed by the Fed over the final months of 2024. pic.twitter.com/YAvRGQPDnV
— ABC News Live (@ABCNewsLive) January 29, 2025
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Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida where she has been writing for the BizPacReview team since 2015.
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