Trump Suggests Political Motives Behind Powell's Fed Decisions, Points To Threat Of "Massive Inflation Again"

Benzinga

Trump criticizes Powell's leadership, suggesting political bias in Fed's interest rate decisions.  Trump links bullish stock market trends to optimism about his potential reelection.

Transcript

00:00 It's Benzinga and here's what's on the block.

00:02 In an exclusive interview with Maria Bartiromo, former President Donald Trump shared his insights

00:06 on the economy and the future leadership of the Federal Reserve. "I think he's political,"

00:10 Trump said, adding that he believes that Powell's actions might favor the Democratic Party.

00:14 Highlighting the potential for inflation due to escalating tensions in the Middle East

00:18 impacting oil prices, Trump doubted Powell's capability to manage such economic challenges.

00:23 Despite originally appointing Powell in 2018, Trump indicated a change in leadership for the

00:27 Federal Reserve should he assume the presidency again, stating, "No, I wouldn't do that," when

00:31 asked about reappointing Powell. Trump also attributed the recent bullish trends in the

00:35 stock market to his political prospects, suggesting that investor optimism about

00:39 his potential return to office is driving market gains, Fox Business reported.

00:43 "They think I'm going to be elected," Trump added, linking market performance to his political

00:47 fortunes. Furthermore, Trump voiced strong criticism of the Biden administration,

00:51 asserting that the country won't survive under a second term. He labeled President Biden as

00:55 incompetent and deemed him the worst president in the history of the United States, expressing a

00:59 conviction that the nation needed a different leadership direction. For all things money,

01:03 visit Benzinga.com.

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