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Categories Politics

SHOTS FIRED: Jerome Powell Says the Fed Would Have Lowered Interest Rates If Not For Trump’s Tariffs – Trump Responds (VIDEO)

July 2, 2025

Fed Chairman Jerome Powell on Tuesday took a shot at President Trump and said the Fed would have likely lowered interest rates if not for Trump’s tariffs.

President Trump inherited high inflation, a stalled economy and high unemployment from Joe Biden and Fed Chairman Jerome Powell is refusing to slash interest rates.

The Fed can stimulate the economy and the real estate market by lowering interest rates, however, Chairman Jerome Powell has left interest rates unchanged since Trump was sworn into office this year.

On Monday White House Press Secretary Karoline Leavitt read a message from Trump to Jerome Powell: “Jerome, you are, as usual, too late. You have cost the USA a fortune and continue to do so…You should lower the rate by a lot! Hundreds of billions of dollars are being lost. No inflation.”

WATCH:

On Tuesday Jerome Powell said rates have remained unchanged because of President Trump’s tariffs.

Recall that Jerome Powell cut interest rates 50 basis points in September when inflation was MUCH HIGHER to boost Kamala Harris. It is obvious that Jerome Powell is playing politics.

“We went on hold when we saw the size of the tariffs. … All inflation forecasts for the U.S. went up materially as a consequence of the tariffs,” Jerome Powell said at an event on Tuesday.

Later Tuesday President Trump called Jerome Powell a ‘moron.’

WATCH:

Treasury Secretary Scott Bessent went off on Jerome Powell on Tuesday evening.

“We got a 50 basis point cut last September, and inflation was higher! And core inflation was much higher. I guess this tariff derangement syndrome happens even over at the Fed,” Bessent said.

WATCH:

The post SHOTS FIRED: Jerome Powell Says the Fed Would Have Lowered Interest Rates If Not For Trump’s Tariffs – Trump Responds (VIDEO) appeared first on The Gateway Pundit.