Get the latest gossip
Donald Trump Blames Biden For Hot Inflation Data As Fed Chief Jerome Powell Grilled On Capitol Hill
U.S. inflation accelerated last month, unwelcome news that make lower interest rates less likely any time soon. Donald Trump blamed Joe Biden as Fed chief Jerome Powell testified on Capitol Hill.
U.S. inflation accelerated in January, unwelcome news to markets, companies and consumers hoping for interest rate relief, as unflappable Federal Reserve chief Jerome Powell sat for a second day on Capitol Hill peppered with questions from lawmakers about the Fed ’s independence, Elon Musk and Donald Trump — who slammed high rates in a social media post today. “Would you like to tell us today that you won’t let DOGE into the Federal Reserve to have access to the systems and the data?” asked another, referring to the new Musk-led Department of Government Efficiency. The Federal Reserve cut rates three times last year after a succession of brutal hikes to curb runway post-Covid inflation.
Or read this on Deadline
