Washington, Dec 10 (EFE). - U.S. President Donald Trump intensified his criticism and pressure on the Federal Reserve on Tuesday, claiming without evidence that his predecessor, Joe Biden, may have improperly installed several members of the central bank. The Republican's comments came during a rally in Pennsylvania, just as the Fed began its last meeting of the year to set interest rates. "I don't know, I think it's something we need to investigate. He's putting people in without authorization," Trump said at the rally, adding that his administration would examine whether Biden had placed individuals on the board without proper approval. He also labeled the central bank's chairman, Jerome Powell, a "bad Federal Reserve chairman" and tasked Treasury Secretary Scott Bessent with looking into the matter. The central bank's meeting follows cuts in September and October that amounted to half a percentage point, with inflation still above 2%, and with markets anticipating a third cut of 0.25% in December. However, the minutes of the previous meeting showed division among members of the Federal Open Market Committee (FOMC), who acknowledged persistent inflation, a cooling labor market, and economic uncertainty, especially linked to Trump's policies. The fact that the next employment and CPI data are to be released on Dec. 16 and 18 due to the federal shutdown will surely condition what the Fed decides tomorrow, which, according to many analysts, will be looking with even greater scrutiny at each indicator in the coming months before making a move due to the double challenge it currently faces (inflation and a cooling labor market). EFE Photo
Trump Accuses Biden of Improperly Appointing Fed Members
U.S. President Donald Trump intensified pressure on the Federal Reserve, claiming without evidence that Joe Biden may have improperly appointed several central bank members. The Fed began its last meeting of the year to set interest rates, as markets anticipate another rate cut.
