PT Solid Gold Berjangka | Trump Blasts Powell, Praises Tariffs at Rally Marking 100 Days
ECONOMY SOLID GOLD BERJANGKA, SG BERJANGKA , SOLID GROUP, PT SGB , SGB
Solid Gold Berjangka | President Donald Trump again criticized Federal Reserve Chairman Jerome Powell as he championed his economic policies and tariff regime during an event Tuesday to mark his 100 days in office.
“Inflation is basically down and interest rates are down despite the fact that I have a Fed guy that’s not really doing a very good job,” Trump said at a rally outside Detroit, Michigan.
The president’s criticism came despite saying earlier this month that he had no plans to fire the central bank chief, despite ongoing criticism of the Fed’s pace of interest rate cuts. The uncertainty surrounding Powell’s fate has rattled markets, adding to investor fears about Trump’s tariff plans.
“You’re not supposed to criticize the Fed,” Trump said. “You’re supposed to let him do his own thing but I know more about interest rates than he does.” Trump wrapped the criticism in a broader defense of his signature economic policies, arguing that his expansive tariff program would inspire a surge in economic growth and lure manufacturers back to the U.S.
But hours before the rally, Trump signed an executive order easing some of his planned tariffs — including a two-year reduction in the 25% auto parts levy on components used in cars and trucks finished in the U.S. The president called the move a “little bit of flexibility” designed to give companies time to re-locate their manufacturing — while issuing a dire warning to automakers who might still want to import parts. “We’re giving them a little bit of time before we slaughter them,” Trump said.
Polls show voters are wary of Trump’s economic agenda and worried that tariffs could tip the economy into recession and raise consumer prices. Consumer confidence in April hit a five-year low. While Trump in Michigan dismissed the survey as biased against him, he has sought to rebuild support for his economic agenda by framing the tariffs as a necessary step to offset the cost of the upcoming tax law.
The bill is an extension of the 2017 tax cuts, but with additional items including eliminating taxes on tipped wages, Social Security and overtime pay. He warned of potential Republican detractors, saying they should be challenged if they fail to support his agenda. “Remember who those know-it-alls are and vote them out of office,” Trump said. The event marked a high-profile measure of the president’s early success before an audience squarely caught in the middle of Trump’s campaign to overhaul global trade and rebuild the U.S. industrial base.
Source: Bloomberg