Trump Slams Fed's Bank Regulation, Accuses Powell of Mishandling Inflation
President Donald Trump criticized the Federal Reserve's bank regulation approach and accused Chairman Jay Powell of failing to combat inflation effectively.
Key Points:
* Trump posted on social media, criticizing the Fed's handling of bank regulation.
* He did not directly address the recent interest rate decision, which kept rates unchanged.
* Trump blamed inflation on the Fed's alleged emphasis on diversity, equity, and climate issues.
* Vice Chair for Supervision Michael Barr is stepping down on February 28th, raising questions about the future of bank regulation.
Fed Response:
A Fed spokesperson declined to comment on Trump's post.
Barr's Departure and Trump's Response:
Barr, the Fed's top banking regulator, plans to step down from his role. Trump has indicated that he will announce a replacement soon.