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Trump is getting anxious again, and this time he really can't wait a moment longer.
Just now, this old fellow launched another barrage at the Federal Reserve: stop holding those meetings and deliberating on rates, hurry up, immediately, right now, cut rates for me!
Old Trump posted on his own turf, directly giving Powell a new nickname—"Chronically Late Professional" Jerome. His logic is brutally simple: current interest rates are basically torturing ordinary people's mortgage payments, and if we keep this up stubbornly, geopolitical conflicts won't be resolved but the domestic economy will be strangled to death by high rates first.
The current situation is quite interesting—on one side, Old Trump is spewing demands for monetary easing, on the other side, Powell is playing it cool. The Fed is meeting next week, but judging by the atmosphere, they'll likely "hold steady." After all, inflation hasn't cooled down yet, oil prices are approaching the $100 mark, and if we blindly cut rates listening to Trump now, prices might just skyrocket.
It's like one side wants to step on the gas while the other is pressing the brake hard and won't let up. The key issue is that Powell's term ends in May, and Trump has already picked his successor. This isn't really about discussing economics—it's clearly "power play mode" activated in advance.
Bond traders right now probably feel numb: inflation isn't under control yet, unemployment is ticking up, and the big shots are dueling remotely. I've seen this episode before—in the end, it's always us waiting for rate cuts who take the fall.
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