The US central bank keeps its key interest rate unchanged as it faces significant economic uncertainty.

Summary

Donald Trump criticized the Federal Reserve and its chairman, Jerome Powell, after the central bank kept interest rates unchanged at 4.25%-4.5%.

Trump blamed the Fed for inflation and urged rate cuts to ease borrowing costs.

Powell defended the decision, citing economic uncertainty and reaffirming the Fed’s independence.

Trump’s economic plans, including tariffs and tax cuts, have raised inflation concerns.

Powell also addressed political pressure, including an order to cancel diversity programs and the Fed’s withdrawal from a climate-focused group, insisting decisions were not politically motivated.

  • shawn1122@lemm.eeEnglish
    83·
    14 hours ago

    Doubt this would crash the global economy. The US dollar would lose value relative to other currencies, and this would have a global impact, but Americans would be hit the hardest. The average American family would have to stop buying eggs, for example.

    • WagyuSneakers@lemmy.world
      141·
      12 hours ago

      This would hurt any country that holds large amounts of US debt like Japan and China.

      You clearly do not understand how interconnected the global economy is.

      • shawn1122@lemm.eeEnglish
        21·
        2 hours ago

        You named two countries. It would certainly have a global impact bit the USians would be hit hardest by far.

    • JWBananas@lemmy.worldEnglish
      3·
      12 hours ago

      The average American family would have to stop buying eggs, for example.

      Bird flu is taking care of that already