On April 25th, Nick Timiraos, a reporter for the Wall Street Journal known as the "Federal Reserve's mouthpiece", wrote that Trump called Federal Reserve Chairperson Powell the "main loser", but the bigger loser in his quarrel with the Federal Reserve may be the person Trump chooses to replace Jay Powell next year. Because by attacking the Federal Reserve to influence policy, Trump may create a "shadow of doubt" for his nominee.
Lawrence Summers, who was Treasury secretary in the Clinton administration from 1999 to 2001, said: "It is foolish for every president to publicly attack the Fed. The Fed either won't listen, or it does and feels pressured to prove its independence, which means short-term interest rates will stay the same or higher."
Federal Reserve megaphone: Trump's remarks will only make it harder for the next Federal Reserve chairperson
2025-04-25 05:38:05
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