Trump wonders whether Chinese President Xi or his own pick for Federal Reserve chair is 'our bigger enemy'


As the U.S.-China trade war continues to escalate, so too are President Trump's attacks on ... his own Federal Reserve chair.
On Friday morning, Trump yet again lashed out at Fed Chair Jerome Powell, angrily tweeting that the "very weak" Federal Reserve "did NOTHING" after Powell failed to reassure that interest rate cuts were on the horizon during the central bank's annual Jackson Hole, Wyoming, symposium.
Trump's attack also came amid mounting fears of a possible U.S recession and China's announcement that it will hit the U.S. with retaliatory tariffs on $75 billion in goods. But Trump went even further than he usually does, this time wondering aloud, "who is our bigger enemy, Jay Powell or Chairman Xi?"
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Despite Xi being the head of the country the U.S. is locked in a trade war with and has labeled a currency manipulator, it sounds like Trump was asking rhetorically:
Powell had emphasized Friday that "monetary policy ... cannot provide a settled rulebook for international trade," The Hill reports. Trump has continuously slammed Powell and demanded he lower interest rates, with The Washington Post reporting that he has considered rotating Federal Reserve governors in an attempt to limit Powell's power. The president has also repeatedly insisted that he could fire Powell.
All this marks quite the change in tone from when Trump praised Powell as "strong," "committed," and "smart" in his glowing 2017 Rose Garden ceremony.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
June 12 editorial cartoons
Cartoons Thursday's cartoons - due process, L.A. traffic, and more
-
Homework: Geoff Dyer brings 'a whole world' to life in his memoir
The Week Recommends Author writes about his experiences with 'humour and tenderness'
-
What happens if Israel attacks Iran?
TODAY'S BIG QUESTION Israel is 'ready to strike' and Tehran has plans for counterattacks against the US as nuclear talks appear deadlocked
-
Trump vows 'very big force' against parade protesters
Speed Read The parade, which will shut down much of the capital, will celebrate the US Army's 250th anniversary and Trump's 79th birthday
-
Smithsonian asserts its autonomy from Trump
speed read The DC institution defied Trump's firing of National Portrait Gallery Director Kim Sajet
-
Trump sends Marines to LA, backs Newsom arrest
speed read California Gov. Gavin Newsom is filing lawsuits in response to Trump's escalation of the federal response to ICE protests
-
Trump foists National Guard on unwilling California
speed read Protests erupted over ICE immigration raids in LA county
-
Supreme Court lowers bar in discrimination cases
speed read The court ruled in favor of a white woman who claimed she lost two deserved promotions to gay employees
-
Trump-Musk relationship implodes in taunts, threats
speed read Musk said Trump's multitrillion bill would cause a recession and accused the president of involvement with Jeffrey Epstein
-
Trump hits Africa, Middle East with new travel ban
Speed Read The travel ban bars visitors from 12 countries and restricts entry from seven
-
Elon Musk slams Trump's 'pork-filled' signature bill
speed read 'Shame on those who voted for it: you know you did wrong,' Musk posted on X