Trump’s Political Attack on the Fed

• US President Donald Trump has been criticizing the US Federal Reserve and its chairman, Jerome Powell, for their reluctance to lower interest rates.

• Trump has accused Powell of being late and wrong, and criticized his actions before the June Fed meeting.

• Trump has also fired Federal Reserve Board Governor Lisa Cook for allegedly lying on mortgage applications.

• Cook, who ends in 2038, refuses to resign, stating that Trump’s actions undermine the Fed’s credibility.

• The Fed has resisted the pressure to cut rates, keeping interest rates at 4.25 to 4.5%.

• Inflation rose to 2.6% in June, up from 2.2% in April.

• Concerns over the labor market and possible changes in monetary policy have led to a possible adjustment of the Fed’s policy stance.

• The clash between the Executive and the Fed is testing the idea of central bank independence.

Political Pressure on Fed is important topic for Civil service exam (WBCS).

🚨Daily Current Affairs MCQ pdf download- Google Drive Link https://drive.google.com/drive/folders/1PN6A2mDkCngLsGR115zhZ_vTV8W7AKN8?usp=drive_link

✅Telegram channel link: https://t.me/TheSoumyaSir

✅Attempt the daily current affairs test in our free section of app (android and ios) : https://play.google.com/store/apps/details?id=co.iron.rrnvu

✅ Interview related telegram group https://t.me/IASWBCSInterview 🔥 Book free consultation with WBCS Gr A Officer: https://bit.ly/Free-Appointment-with-Soumya-Sir-Other-WBCS-A-Officer

✅ Courses https://www.wbcsmadeeasy.in/courses/

✅ Attempt previous years questions : Link: https://bit.ly/wbcs-pyq-wbcsmadeeasy

✅ Take subject wise Chapterwise mock test : https://bit.ly/wbcs-prelims-all-subjects-chapter-wise-test

✅ Bio – https://bit.ly/m/wbcs-made-easy

✅ App download – Android: https://play.google.com/store/apps/details?id=co.iron.rrnvu&pcampaignid=web_share (iOS available too)

WBCS MADE EASY www.wbcsmadeeasy.in

8274048710/8585843673

Jawahar IAS www.jawaharias.in 7439954855