00:00President Donald Trump is lashing out at Federal Reserve Chair Jerome Powell.
00:23He says he's frustrated that the Fed has not aggressively cut interest rates, and he says
00:27the central bank leader's termination cannot come fast enough.
00:31Now the source of Trump's anger is a statement from Powell that signaled that the Fed will
00:36keep its interest rate unchanged while it seeks greater clarity on the impact of policy
00:41changes in areas such as immigration, taxation and tariffs.
00:53Powell also reiterated that Trump's tariffs would likely raise inflation and slow the
00:57economy.
00:58That of course could make it harder for the Fed to cut rates anytime soon.
01:02The level of tariff increases announced so far is significantly larger than anticipated
01:07and the same is likely to be true of the economic effects, which will include higher inflation
01:13and slower growth.
01:15Powell was initially nominated by Trump in 2017.
01:18He was nominated to another four year term by President Joe Biden in 2022, and his current
01:23term ends in May of 2026.
01:26In November, Powell indicated he would not step down if Trump asked him to resign.
01:30He's also said that the removal or demotion of top Fed officials was not permitted under
01:35the law.
01:36Now it's worth noting that Trump's comments come against the backdrop of a legal case in
01:40the Supreme Court that could determine whether presidents can fire the heads of independent
01:45agencies such as the Fed.
01:52Today, we decided to leave our policy interest rate unchanged and to continue to reduce our
01:58securities holdings.
01:59Good afternoon.
02:03Before discussing today's meeting, let me comment briefly on recent developments in the banking
02:15comments here of the principles I am going to focus on.
02:16So, let me go to the website.
02:17Please check it out.
02:18Please check it out.
02:19We are going to leave our policy interest rate at the bottom of the position.
02:22The day of the problem is, let me go to the stage of the link, let me go to the
02:23top of the line.
02:24The mind of the attack has been really a bit and a bit and a bit of a bit.
02:27So, let me go to the next step and look to each other.
02:28This is a full view of the Señor of the United States.
02:29This is a full view of the KalilCCia Tunes who have a great choice for the
02:30athlete.
02:30So, let me go to the next step and look to the next step.
02:32It is the second view of the National Anthem.
02:33It has been a very difficult time to write into the B.
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