The President of the United States, Donald Trump, criticized the Federal Reserve's decision to maintain interest rates. He accused the Fed of not addressing the problems it caused with inflation and described its work as terrible. He promised that the Treasury Department would lead deregulation initiatives to facilitate access to credit for American consumers and businesses.
In his statements, Trump blamed the Federal Reserve and its chairman, Jerome Powell, for creating the inflation problem that remains unresolved. He expressed his intention to tackle rising prices through greater deregulation of the energy industry. He pointed out that the Fed has failed to stop inflation and stated that the United States is facing one of the worst inflations in its history.
Regarding banking regulation, the president indicated that the Treasury would lead the reduction of unnecessary regulations and facilitate loans for American citizens and businesses. Trump argued that if the Federal Reserve had placed less emphasis on issues like diversity, equity, and inclusion, as well as green energy and climate change, inflation would not be a problem.
Additionally, Trump announced his intention to unleash energy production in the United States, cut regulations, rebalance international trade, and revive domestic manufacturing. He assured that his strategy aims not only to stop inflation but also to financially strengthen the country in all aspects. Finally, he criticized the Fed's performance in banking regulation and reiterated that the Treasury would eliminate regulations deemed unnecessary.
