Trump again pointed the finger at Powell, demanding the Fed to cut interest rates.

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On October 29, U.S. President Trump criticized the Fed on Thursday, once again pointing the finger at Fed Chair Powell, accusing him of being slow to act on interest rate cuts. In a speech in South Korea, Trump referred to “Jerome 'Too Late' Powell,” which drew laughter from business executives and leaders attending the APEC summit. Trump added, “We will not let the Fed raise interest rates out of concern for inflation three years from now.” This statement perhaps suggests he acknowledges that inflation may ultimately accelerate. He predicted that the U.S. economy would achieve a 4% rise in the first quarter of 2026, well above the median forecast of economists surveyed by Reuters. Economists believe that the import tariffs newly implemented by the Trump administration will continue to weigh on economic growth. Thursday's remarks highlighted the tension between Trump and the Fed, with Trump criticizing Powell for not cutting rates quickly enough, stating that the Fed is behind its European counterparts, damaging business confidence. (Jin10)

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