White House Defends Trump’s Actions
President Donald Trump is once again calling out the Federal Reserve—and this time, the White House is backing him all the way. As inflation worries ease and markets react to shifting policies, Trump’s fight for lower interest rates is striking a chord with millions of Americans—especially seniors, savers, and retirees watching their nest eggs shrink.
Trump Blasts Fed Chair Jerome Powell Over Interest Rate Politics
In a series of posts on Truth Social, President Trump slammed Federal Reserve Chairman Jerome Powell, accusing him of playing politics instead of focusing on what’s best for the economy. Trump labeled Powell a “major loser”, saying past rate decisions were made to help Joe Biden’s re-election campaign.
His comments came just before the Dow Jones Industrial Average plunged nearly 1,000 points, as investor uncertainty intensified.
White House: Fed Should Serve the People, Not Politics
White House Press Secretary Karoline Leavitt confirmed the president’s frustrations, saying, “President Trump believes the Fed should act in the best interest of the American people, not political elites.”
She added, “Americans deserve access to cheaper borrowing, more affordable mortgages, and a break from the high-interest policies that hurt middle-class families and seniors on fixed incomes.”
Trump Pushes for Rate Cuts: ‘There Is Virtually No Inflation’
On Truth Social, Trump pointed out falling prices in key areas like energy, groceries, and household essentials, writing:
“With Energy Costs down, food prices lower (including Biden’s egg disaster!), and most goods trending downward, there is virtually No Inflation. We need lower interest rates now.”
Powell Resists Cuts—Trump Questions His Intentions
Fed Chair Powell has drawn Trump’s criticism for warning that tariffs and policy shifts could raise inflation, a claim the Trump administration disputes. Trump recently hinted he’s exploring Powell’s removal, despite legal protections that make such action difficult.
Economic Adviser Kevin Hassett confirmed the administration is reviewing the issue and questioned whether the Fed is acting independently or out of partisan loyalty.
Legal Barriers May Keep Powell in Place—For Now
Under a 90-year-old Supreme Court precedent, the president can only remove a Fed chair for “cause,” such as misconduct or neglect. Powell insists he cannot be fired and will serve out his term until 2026.
But the political showdown continues—and Americans are watching closely.
Bottom Line: As the 2024 election approaches, President Trump is making it clear—economic freedom, lower interest rates, and accountability at the Fed will be central to his second-term agenda.
