Analyst: With Tariffs Darkening Economic Outlook, Trump Sees Powell as the Scapegoat

April 18 news, CNN analyst Stephen Collinson indicated that Trump once again attacked Federal Reserve Chairman Jerome Powell on Thursday, adding more gloom to an already turbulent financial market and economic outlook due to tariffs and trade wars. Trump told reporters in the Oval Office, "If I wanted him out, he's out quickly, believe me. I'm not happy with him."

Trump is angry at Powell for ignoring his repeated calls for rapid interest rate cuts. Lowering rates could have made it easier for Americans to get loans for homes, boost consumer confidence, and push up the stock market. The Federal Reserve cut rates three times last year after inflation nearly hit the target level. However, against the backdrop of increasing economic uncertainty, the Fed has paused this strategy, with these uncertainties further heightened due to Trump’s unpredictable leadership style in less than three months since taking office. On Thursday morning, Trump seemed irked by Powell's warning the previous day. Powell had stated that tariffs could lead to inflation and higher unemployment rates, with some of the costs "borne by the public."