President Donald Trump admitted Wednesday during an Oval Office press event that he was “surprised” that Jerome Powell was appointed Fed Chair, apparently forgetting that he was the individual who appointed the “terrible” appointee.
It was the latest in a string of Trump’s attacks on Federal Reserve Chair Powell, whom he has criticized for his handling of interest rates and monetary policy.
“The country has become so successful that it doesn’t have a big impact, but it does hurt people wanting to get a mortgage, people want to buy a house,” Trump said during an Oval Office gaggle with the Crown Prince and Prime Minister of the Kingdom of Bahrain.
“He’s a terrible Fed chair,” he continued. “I was surprised he was appointed. I was surprised, frankly, that Biden put him in and extended him, but they did.”
Trump appointed Powell to lead the central bank in November 2017, selecting him to succeed Janet Yellen despite Powell being a sitting member of the Fed’s Board of Governors. At the time, Trump praised Powell as a consensus builder with a “strong, steady, and wise” approach to economic stewardship. However, their relationship quickly soured as the Fed raised interest rates in 2018 and 2019.Trump has frequently broken with presidential norms by publicly berating Powell, at times calling him an “enemy” and comparing him unfavorably to Chinese President Xi Jinping. In recent weeks, Trump has again criticized Powell, accusing him of playing politics with rate decisions ahead of the 2024 election. These continued attacks have renewed concerns about the Fed’s independence should Trump return to the White House. Powell, in turn, has publicly said he will serve out his term even if Trump tries to remove him.
https://www.newsbreak.com/mediaite-...as-appointed-forgetting-he-appointed-himVery stable genius indeed. No wonder his supporters blame everything he does and says on the Democrats.
