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THE FED: Pres. Trump and Jerome Powell not agreeing on FED rates
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August 3, 2025
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10:28Now PlayingAP reports, job gains are dwindling. Inflation is ticking upward. Growth has slowed compared with last year.
More than six months into his term, Trump’s blitz of tariff hikes and his new tax and spending bill have remodeled America’s trading, manufacturing, energy and tax systems to his own liking.
He’s eager to take credit for any wins that might occur and is hunting for someone else to blame if the financial situation starts to totter.
But as of now, this is not the boom the Republican president promised, and his ability to blame his Democratic predecessor, Joe Biden, for any economic challenges has faded as the world economy hangs on his every word and social media post.
When Friday’s jobs report turned out to be decidedly bleak, Trump ignored the warnings in the data and fired the head of the agency that produces the monthly jobs figures.
“Important numbers like this must be fair and accurate, they can’t be manipulated for political purposes,” Trump said on Truth Social, without offering evidence for his claim. “The Economy is BOOMING.”
It’s possible that the disappointing numbers are growing pains from the rapid transformation caused by Trump and that stronger growth will return — or they may be a preview of even more disruption to come.
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