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“The Fed has done a terrible job on Bank Regulation. Treasury is going to lead the effort to cut unnecessary Regulation, and will unleash lending for all American people and businesses,” Trump posted Wednesday on his social media site.
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Trump commented after the Federal Open Market Committee voted unanimously to keep the federal funds rate in a range of 4.25 to 4.5 per cent. The president said “Jay Powell and the Fed failed to stop the problem they created with Inflation,” but did not mention the rate decision.
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The president blamed inflation on the Fed’s supposed focus on “DEI, gender ideology, ‘green’ energy, and fake climate change.” Trump’s first 10 days in office have been consumed by efforts to root out diversity, equity and inclusion offices and climate initiatives from the federal bureaucracy.
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