Trump Chides Fed Chair Powell About Interest Rates During Rare Joint Appearance
President Donald Trump not-so-subtly reminded Federal Reserve Chair Jerome Powell that he wants to see interest rates go down as soon as possible.
On Friday, Trump and Powell were seen touring the Federal Reserve as the facility was undergoing major renovations. Over the last few months, Trump has repeatedly insulted Powell — and even threatened to fire him — over his reluctance to decrease interest rates. Trump has demanded that rates go down as a way to combat inflation.
At one point during their tour, Trump and Powell stopped to take a few questions from the press. While the Q&A was mostly unremarkable, things did get a bit testy when Trump inaccurately stated the estimated cost of the renovations. Powell repeatedly denied the figure Trump cited and even corrected him.
With the final question, Trump was asked if there was anything Powell could do to make the president “back off some of the earlier criticisms.”
For those paying attention, his answer was an obvious one.
“Well, I’d love him to lower interest rates,” Trump said. He then playfully patted Powell on the back, and the two shared a chuckle.
“Other than that,” the president continued, “what can I tell you?”
Notably, the Fed chair does not unilaterally change interest rates. Interest rate changes are made by the Federal Open Market Committee (FOMC), a 12-person board that votes on any changes.
Watch above via Fox News