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Trump Suggests Political Motives Behind Powell's Fed Decisions, Points To Threat Of "Massive Inflation Again"
Benzinga
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2/2/2024
Trump criticizes Powell's leadership, suggesting political bias in Fed's interest rate decisions.
Trump links bullish stock market trends to optimism about his potential reelection.
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00:00
It's Benzinga and here's what's on the block.
00:02
In an exclusive interview with Maria Bartiromo, former President Donald Trump shared his insights
00:06
on the economy and the future leadership of the Federal Reserve. "I think he's political,"
00:10
Trump said, adding that he believes that Powell's actions might favor the Democratic Party.
00:14
Highlighting the potential for inflation due to escalating tensions in the Middle East
00:18
impacting oil prices, Trump doubted Powell's capability to manage such economic challenges.
00:23
Despite originally appointing Powell in 2018, Trump indicated a change in leadership for the
00:27
Federal Reserve should he assume the presidency again, stating, "No, I wouldn't do that," when
00:31
asked about reappointing Powell. Trump also attributed the recent bullish trends in the
00:35
stock market to his political prospects, suggesting that investor optimism about
00:39
his potential return to office is driving market gains, Fox Business reported.
00:43
"They think I'm going to be elected," Trump added, linking market performance to his political
00:47
fortunes. Furthermore, Trump voiced strong criticism of the Biden administration,
00:51
asserting that the country won't survive under a second term. He labeled President Biden as
00:55
incompetent and deemed him the worst president in the history of the United States, expressing a
00:59
conviction that the nation needed a different leadership direction. For all things money,
01:03
visit Benzinga.com.
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0:51
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