President Donald Trump renewed criticism of Federal Reserve Chairman Jerome Powell as he championed his economic policies and tariff regime during a Tuesday event to mark his 100th day in office.
“Inflation is basically down and interest rates came down despite the fact that I have a Fed person who’s not really doing a good job,” Trump said at a rally just outside of Detroit, Michigan.
The president’s denunciation came even though earlier this month he said he did not plan to fire the central bank chief, despite persistent criticism of the Fed’s pace of interest rate cuts. Uncertainty around Powell’s fate jolted markets, compounding 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 much more than he does about interest rates.”
Trump wrapped the criticism in a broader defense of his signature economic policies, arguing that his sweeping tariff program would inspire a wave of economic growth and lure manufacturers back to the US. Yet hours before the rally, Trump signed directives easing some of his planned tariffs — including a two-year reduction in 25% auto parts levies for components used in cars and trucks finished in the US.
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