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The president called him a moron, and he is correct

Trump calls Powell a moron.

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THE MORON

“I need interest rates to be lower, and so do you. We all do, and so Trump is correct…Powell is indeed a moron.” — DML

Trump’s Fury at Powell: Why Lower Interest Rates Are the Key to a Booming Economy 

It’s getting really hard to stay in business right now; it’s tough at home too; that’s what I’m hearing from so many people. Although layoffs haven’t started, people and companies are cutting back—there’s no other choice. We’ve all been overpaying for things for years. Do the math: interest rates on business loans, lines of credit, mortgages, and credit cards have been high for years. Add the crazy amount of money we’ve spent on food, utilities, and essentials for nearly four years because of Biden’s inflation, and the math shows people are struggling. I’m in the same boat as you at home, and my businesses are hurting. Example, my newsletters — we’re working harder and taking in less — accepting lower payouts on ads for example. But with times being what they are, we’ve got to grab even the small stuff because it’s something. Without it, we go belly up and close shop. This is starting to happen from coast to coast, and it’s only going to get worse without action from the Fed.

President Trump didn’t mince words today aboard Air Force One, branding Federal Reserve Chair Jerome Powell a “moron” for refusing to cut interest rates. Trump’s frustration is palpable, and it’s not hard to see why. The economy is teetering, inflation is cooling, and warnings of a slowdown are growing louder. Yet Powell clings to high rates, risking a recession that could devastate American families and businesses. Trump’s outrage reflects a simple truth: lower interest rates could unleash a wave of prosperity, and Powell’s inaction is holding the nation back.

Trump’s ire stems from Powell’s decision to keep the federal funds rate at 4.25%-4.5%, despite inflation dropping to a four-year low, near the Fed’s 2% target. Powell argues that Trump’s tariffs, which could spike prices, justify his caution. He’s waiting for more data to gauge their impact, fearing premature cuts could reignite inflation. This “wait-and-see” approach, Powell insists, protects long-term stability. But Trump sees it as dithering, costing the U.S. billions in debt interest payments and choking economic growth.

Powell, appointed by Trump in 2017, and then kept in place by Biden, serves a four-year term as Fed chair, set to end in May 2026. Removing him is no simple task. The Fed’s independence, enshrined in law, shields Powell from being fired without cause, like malfeasance. Trump could nominate a new chair when Powell’s term ends, but until then, Powell holds firm, backed by a Supreme Court ruling reinforcing the Fed’s autonomy.

Lowering rates would ignite the economy. 

When rates drop, borrowing becomes cheaper. Families refinance mortgages, freeing up cash for spending on homes, cars, or education. Credit card and auto loan payments shrink, putting more money in consumers’ pockets. Businesses, flush with affordable loans, invest in new equipment, open factories, and hire workers. This creates jobs, boosting wages and fueling more spending. The cycle feeds itself: more money, more growth, better everything.

There’s no good reason to delay. 

Inflation is down, and the labor market, while solid, shows cracks—youth unemployment is rising, and first-quarter GDP fell 0.5%. Economists warn of a slowdown, and prolonged high rates could tip us into recession. Powell’s tariff fears are speculative; most predict short-term price hikes, not persistent inflation. Meanwhile, the European Central Bank has cut rates eight times, leaving the U.S. lagging. Trump’s right to demand action. Powell’s inertia risks economic stagnation when we could be thriving. Lower rates would unleash a boom, and so I’m watching the markets and the Fed very closely, and truth be told, I agreed to the run the sponsor today because I get my business insights from them. Morning Brew’s business newsletter is a sharp, free daily email that keeps me ahead of the curve.

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