Headline: Trump Blasts Fed for Failing to Curb Inflation, Claims Focus on 'DEI, Climate Change'

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President Donald Trump has criticized the Federal Reserve (Fed) following its decision to maintain interest rates, alleging that the central bank failed to address the inflation it created. Trump further accused the Fed of mishandling bank regulation and spending excessive time on social justice and environmental initiatives.

The President outlined his own plan to tackle inflation, including ramping up domestic energy production, reducing regulations, rebalancing trade, and boosting manufacturing. He declared his intention to "make our country financially... powerful again" beyond addressing inflation concerns.

Trump's comments escalate potential tensions with the Fed over monetary policy direction. Despite demanding lower rates, Trump has not yet contacted Fed Chairman Jerome Powell directly.

Powell refrained from directly responding to Trump's allegations during a press conference, citing the Fed's independence. However, he acknowledged uncertainties in the Trump administration's economic policies, which could impact monetary policy decisions.

Uncertainties include proposed tariffs, immigration reforms, fiscal policy, and regulatory changes. Powell emphasized the need to observe these policies before assessing their potential impact.

While inflation measures have shown slight improvement, economists anticipate a modest increase in core PCE inflation. The Fed's focus on maintaining price stability and achieving its goals will continue, Powell stressed.

Trump's criticism also targeted the Fed's involvement in discussions on climate change. Powell justified the Fed's withdrawal from such a global group, stating that its scope exceeded the Fed's mandate.

In conclusion, President Trump's attacks on the Fed for its handling of inflation and other issues highlight potential clashes over monetary policy direction. The Fed remains committed to its independence and will continue monitoring economic developments and adjusting its policies as necessary.