7 hours Ago
The Dow Jones Industrial Average lost more than 970 points and the Nasdaq and S&P 500 were off more than 2% on Monday with stock markets worried about the lack of trade deals from President Donald Trump’s tariffs as well as his trash talk and potential bid to fire Federal Reserve Chairman Jerome Powell. Trump called Powell “a major loser” Monday pressing for the Fed to cut interest rates and citing cooling inflation. “There is virtually No Inflation.
With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW. Europe has already ‘lowered’ seven times,” Trump said.
“Powell has always been ‘To Late,’ except when it came to the Election period when he lowered in order to help Sleepy Joe Biden, later Kamala, get elected. How did that work out?,” Trump continued referring to a Fed interest rate cut before the November election last year. Powell has said Trump’s high tariffs are poised to increase prices and slow economic growth and want to see what happens with those before central banks actions on interest rates.
Powell’s term as Fed chairman runs until next year. But Trump is exploring potentially trying to fire the central bank chairman. Stock markets are in a sour mood after the long Easter weekend with U.
S. markets closed on Good Friday. The Trump administration has not made much progress on new trade deals after Trump backtracked on his high Liberation Day tariffs April 2 and took them down to 10% import levy rate for 90 days.
The exception is China which Trump still has a 145% tariff (except for some exemptions for smart phones, computers and electronics). China has a 125% tariff on American goods. President Donald Trump and first lady Melania Trump, stand with the Easter bunny as they participate in the White House Easter Egg Roll on the South Lawn of the White House, Monday, April 21, 2025, in Washington.
(AP Photo/Mark Schiefelbein) Trump also defended his tariffs and tactics including two all caps social media posts “THE GOLDEN RULE OF NEGOTIATING AND SUCCESS: HE WHO HAS THE GOLD MAKES THE RULES,” Trump said Easter Sunday. “THE BUSINESSMEN WHO CRITICIZE TARIFFS ARE BAD AT BUSINESS, BUT REALLY BAD AT POLITICS. THEY DON’T UNDERSTAND OR REALIZE THAT I AM THE GREATEST FRIEND THAT AMERICAN CAPITALISM HAS EVER HAD!,” Trump said.
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