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.
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.
-
Supreme Court to decide on mail-in ballot limitsSpeed Read The court will determine whether states can count mail-in ballots received after Election Day
-
Democrats split as Senate votes to end shutdownSpeed Read The proposed deal does not extend Affordable Care Act subsidies, the Democrats’ main demand
-
Political cartoons for November 11Cartoons Tuesday's political cartoons include GOP promises, a pardoned turkey, and stumping for Cop30
-
Supreme Court to decide on mail-in ballot limits
Speed Read The court will determine whether states can count mail-in ballots received after Election Day
-
Democrats split as Senate votes to end shutdown
Speed Read The proposed deal does not extend Affordable Care Act subsidies, the Democrats’ main demand
-
USDA orders states to ‘undo’ full SNAP paymentsSpeed Read The Trump administration is telling states not to pay full November food stamp benefits
-
Senate takes first step to end record shutdownSpeed Read Eight senators in the Democratic caucus voted with Republicans to advance legislation to reopen the government
-
Has Zohran Mamdani shown the Democrats how to win again?Today’s Big Question New York City mayoral election touted as victory for left-wing populists but moderate centrist wins elsewhere present more complex path for Democratic Party
-
Senate votes to kill Trump’s Brazil tariffSpeed Read Five Senate Republicans joined the Democrats in rebuking Trump’s import tax
-
Border Patrol gets scrutiny in court, gains power in ICESpeed Read Half of the new ICE directors are reportedly from DHS’s more aggressive Customs and Border Protection branch
-
Shutdown stalemate nears key pain pointsSpeed Read A federal employee union called for the Democrats to to stand down four weeks into the government standoff
