US President Donald Trump has become the center of attention by harshening his criticism of Fed Chair Jerome Powell in his latest statements.
Trump stated that he wanted to fire Powell, saying, “It's grossly incompetent. They're spending $4 billion building buildings. My new White House banquet hall project will be much larger and much cheaper. Interest rates are unnecessarily high; we should sue Powell for the Fed's construction costs.”
Trump also said the composition of jobs under Biden is “unhealthy.” He noted that one in four new jobs has been created in the federal government, adding, “This shows that government has become overextended, and that's alarming for the country.”
The president also offered optimistic messages about inflation and the cost of living, saying core inflation has fallen below 2.7% since he took office.
Trump expressed skepticism about large-scale US investments in chip production with foreign partners. However, he argued that capturing 40-50% of the global chip market is possible if the right steps are taken.
Commenting on economic performance, the President said the stock market has broken records 46 times in the nine months since his election, injecting “unprecedented energy” into the American economy. According to Trump, workers' wages are also experiencing their fastest growth in 60 years. He said the right approach behind this is not to expand federal employment, but to strengthen the private sector.
*This is not investment advice.
