Trump: The dismissal of the Federal President cannot take place enough quickly

US President Donald Trump, Federal Reserve President Jerome Powell, criticized on Thursday for not lowering interest rates, describing him as “always very late and wrong.”

Trump wrote on his platform “Truth Social”: Powell could not be dismissed enough, he should have reduced interest rates, as the European Central Bank did a long time ago, but it must definitely reduce it now.

Powell was mentioned yesterday during his participation in the Economic Club in Chicago that “the procedures of the new US administration keep us away from achieving our goals,” suggesting the high unemployment rate with the slowdown in the economy, and that customs duties raise inflation rates, and the more these fees continue, the inflation will increase significantly.

“The customs duties imposed by Trump exceeded our expectations, and the Trump administration is carrying out many economic measures that cannot be predicted,” according to Powell, who expected the high prices of personal consumption expenses 2.3%, and the slowdown in American economic growth amid poor growth in consumer spending and a decrease in confidence, in addition to an accelerated flow in imports to avoid customs duties that affect the estimates of the gross domestic product.

He added, “Despite the increasing fog and the risks of decline, the American economy is still in a strong situation … but the data currently available indicate that growth slowed in the first quarter compared to a strong pace recorded last year.”

The US Central Bank remains on the interest rate in a range ranging between 4.25 % and 4.50 % since December after a series of discounts in late last year, and since then, the pace of progress towards the return of inflation has slowed down to the pace that targets it at 2 %, and stated that they are ready to provide the dollar to global central banks when necessary, adding, “We do not believe that we are close to the point that drives us to reduce possession.”