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?"
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.
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.
-
September 1 editorial cartoons
Cartoons Monday’s political cartoons include Labor Day picnic, branding strategy, and more
-
What is Tony Blair's plan for Gaza?
Today's Big Question Former PM has reportedly been putting together a post-war strategy 'for the past several months'
-
When does autumn begin?
The Explainer The UK is experiencing a 'false autumn', as climate change shifts seasonal weather patterns
-
RFK Jr. names new CDC head as staff revolt
Speed Read Kennedy installed his deputy, Jim O'Neill, as acting CDC director
-
DC prosecutors lose bid to indict sandwich thrower
Speed Read Prosecutors sought to charge Sean Dunn with assaulting a federal officer
-
White House fires new CDC head amid agency exodus
Speed Read CDC Director Susan Monarez was ousted after butting heads with HHS Secretary Robert F. Kennedy Jr. over vaccines
-
DOGE put Social Security data at risk, official says
Speed Read DOGE workers made the personal information of hundreds of millions of Americans vulnerable to identity theft
-
Court rejects Trump suit against Maryland US judges
Speed Read Judge Thomas Cullen, a Trump appointee, said the executive branch had no authority to sue the judges
-
Trump expands National Guard role in policing
Speed Read The president wants the Guard to take on a larger role in domestic law enforcement
-
Trump says he's firing Federal Reserve Governor Lisa Cook
Speed Read The move is likely part of Trump's push to get the central bank to cut interest rates
-
Abrego released from jail, faces Uganda deportation
Speed Read The wrongly deported Kilmar Abrego García is expected to be detained at an ICE check-in and deported to Uganda