Trump Melts Down at Foe on Truth Social With Bonkers Theory
The Daily Beast • • business
Key Points:
- Former President Donald Trump criticized Federal Reserve Chairman Jerome Powell's decision to remain on the Fed's Board of Governors after his chairmanship ends, claiming Powell "can't get a job anywhere else."
- Powell announced he would stay on the board until January 2028, citing concerns over political attacks on the Federal Reserve that could undermine its independence in conducting monetary policy.
- The Justice Department recently dropped an investigation into Federal Reserve building renovations and Powell's related testimony, though Trump ally U.S. Attorney Jeanine Pirro has indicated potential for reopening the probe.
- Trump has repeatedly insulted Powell on social media, blaming him for refusing to lower interest rates and accusing him of damaging the country’s economy and national security.
- Powell's decision to stay on the board is unusual for a chairman and comes amid ongoing legal and political disputes involving the Federal Reserve and its governors.
