Analyst: Tariffs dim economic outlook, Trump sees Powell as scapegoat

Planet Daily News: CNN analyst Stephen Collinson said that Trump once again fiercely attacked Federal Reserve Chairman Jerome Powell on Thursday, adding further gloom to the financial markets and economic prospects already shaken by tariffs and trade wars. Trump told reporters in the Oval Office, "If I want him to leave, he will be gone soon, believe me. I am very dissatisfied with him." Trump was angry that Powell ignored his repeated calls for quick interest rate cuts. Such rate cuts could have made it easier for Americans to obtain home loans, boost consumer confidence, and drive up the stock market. The Federal Reserve cut rates three times last year when inflation was close to its target level. However, amid growing economic uncertainty, the Fed paused this strategy, and these uncertainties have been further exacerbated by Trump's volatile leadership style since taking office less than three months ago. On Thursday morning, Trump seemed irritated by Powell's warning the day before. Powell had said that tariffs could lead to inflation and higher unemployment rates, with part of the cost "to be borne by the public".