President Donald Trump expressed surprise at Jerome Powell's appointment as Federal Reserve Chair, noting his dissatisfaction with Powell’s management of interest rates. Trump criticized Powell, saying his policies negatively impact home buyers. Despite initially praising Powell’s abilities, Trump’s satisfaction waned as interest rates increased under Powell’s leadership. The relationship deteriorated, with Trump labeling Powell as a terrible Fed chair and questioning his independence ahead of the 2024 election. Powell has vowed to complete his term even if Trump attempts to remove him, raising concerns about the Fed's autonomy should Trump return to power.
President Trump expressed surprise at Jerome Powell's role as Federal Reserve Chair, despite having appointed him. Trump criticized Powell's handling of interest rates, stating that his policies harm those wanting to purchase homes.
Trump has repeatedly referred to Powell as a terrible Fed chair, indicating that he was initially surprised by both his appointment and Biden's decision to extend Powell's term.
Despite appointing Powell, Trump has criticized his performance, particularly as the Federal Reserve raised interest rates during Trump's presidency, leading to a souring of their relationship.
Concerns about the Federal Reserve's independence have intensified due to Trump's ongoing criticisms of Powell's decisions, particularly as the 2024 election approaches.
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