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Analysts: Trump sees Powell as a scapegoat as tariffs dim economic prospects

On April 18, CNN analyst Stephen Collinson said that Trump once again lashed out at Federal Reserve Chairman Jay Powell on Thursday, adding to the gloom of financial markets and economic prospects that have already been hit repeatedly by the turmoil in tariffs and trade wars. Trump told reporters in the Oval Office,"If I want him to step down, he's going to have to go soon, trust me." I am very dissatisfied with him." Trump was angry that Powell ignored his repeated calls for quick interest rates. Interest rate cuts could have made it easier for Americans to obtain loans to buy homes, boosting consumer confidence and pushing stocks higher. The Federal Reserve cut interest rates three consecutive times last year, after inflation was close to target levels. But the Fed suspended the strategy amid growing economic uncertainty, which has been further exacerbated by Trump's erratic leadership style less than three months into taking office. On Thursday morning, Trump seemed annoyed by Powell's warning the day before. Powell has said tariffs could lead to inflation and higher unemployment, and part of the cost "will be borne by the public."

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