Trump calls Fed chief Jerome Powell ‘stupid,' demands interest rate cut to 1%
US President Donald Trump intensified his criticism of Federal Reserve Chair Jerome Powell on Friday, saying he would "love" for Powell to resign. Speaking to reporters, Trump described Powell as having done a lousy job and went as far as to call him stupid."I'd love him to resign if he wanted to, He's done a lousy job", Trump said. "I think we should be paying 1per cent right now, and we're paying more because we have a guy who suffers from, I think, Trump Derangement Syndrome," Trump added.advertisementTrump reiterated his long-standing call for significantly lower interest rates, stating that the Federal Reserve should bring the rate down to 1 per cent. He has repeatedly argued that lower borrowing costs would boost economic growth and strengthen the U.S. economy.
The Federal Reserve recently agreed to keep interest rates at 4.25 per cent to 4.50 per cent, a rate established to stabilise inflation while balancing economic growth.Trump's battles with the Federal Reserve trace back to his presidency. Whereas Fed chairs have long had autonomy from presidential pressure, Trump has regularly pushed those limits. Even though the president lacks the legal right to fire a Fed chair without cause, Trump has publicly questioned that tradition in his term.Jerome Powell, who Trump appointed in 2018, is likely to hold the position of Fed chair until May 2026. But with the next presidential election and the possibility of Trump returning to power, he has signalled his intention to nominate another person who would prefer aggressive rate cuts.advertisementTrump confirmed on Friday that if he were given the chance, he would appoint a successor more in tune with his economic agenda.This latest exchange of criticism comes as part of long-standing political tensions around the Federal Reserve's policy direction leading up to the 2025 elections.- EndsMust Watch
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First Post
20 minutes ago
- First Post
Lessons Israel-Iran war has for India's Operation Sindoor
India has to learn from Israel the contours of future war, where the enemy could be already well within the gates, wreaking havoc when it is given the signal read more It may be too early to learn lessons from the Israel-Iran war, but there are certainly some quick takeaways for India. Because Operation Sindoor is not over, and terrorism from Pakistan is unlikely to end as long as the army is in control there. Don't forget also that everyone is watching the war calibration carefully. Lessons will be learnt by all sides in this for their own purposes. And that's where we need to think and analyse and plan for the future. STORY CONTINUES BELOW THIS AD Deep Intelligence The first aspect of the war is that Israel had access to precise intelligence on the ground in terms of a continuous feed. Fodrow, Natanz and others were static bases and needed no great intelligence capability. But the targeting of some 14 scientists is a different game altogether. Reports indicate that the majority were killed by explosive-laden drones, indicating a very high level of internal penetration into Iran. Israel has always had a formidable intelligence capability. But this was something else, and it's an open question what kind of deep assets it used when the 'go' command was given. For depend upon this. Such assets are not built overnight. That is worrying in terms of future wars. That means India has to not just up its technical intelligence for the future but also use technology to guard against such locally launched attacks – which could be on intel agencies, on high officials, and on personnel of sensitive installations. So far, the thrust of defence expenditure has been in securing the country's borders. Time to look inwards. Sindoor as Template The second aspect is rather the reverse. In many ways, the US operation, 'Midnight Hammer', was a textbook copy of 'Operation Sindoor'. Trump's announcement of having targeted 'only' nuclear sites, clear signs of talking to Iranians, and most of all, a series of moves to end the war quickly, something that the US is not known for. Those moves included allowing China to continue to buy oil – though sanctions remain – thus ensuring that outside powers did not take a hand. Iran was mollified by leaving open the possibility of sanctions relief. Then was his weighing heavily on Israeli Prime Minister Netanyahu, to end his continuing strikes. Since the US could at any time stop its missile interception assistance for Israel, this arm-twisting was likely to have had a telling effect. The Standoff War Another takeaway from both operations is the 'stand-off' wars. Prior to US entry into Iran, Washington made sure that Israel had managed complete air superiority with bombing and missile raids. Even then it used a formidable array of aircraft that included the famed Stealth B-2's, practically invisible to radar, and fighter aircraft from its many bases in West Asia. And to make trebly sure, some 'two dozen' land-attack cruise missiles were fired from a submarine which was entirely undetected, at Isfahan. All attacks were at the extreme west of Iran, indicating that aircraft had no intention of doing a flyby and 'loitering' in the war zone. The blueprint of overwhelming force is used since even one aircraft lost would have been the political end for President Trump. No cities were hit, and US intel would have known full well that the major sites had been evacuated. But the lesson is that when there are no serious casualties, escalation is unlikely. This was also the case in Sindoor, where casualties were few. India did not have such a luxury of a package of aircraft (not to mention bases from where fighters could take off and provide protective cover), nor did it even enter Pakistan. But both provide a lesson in 'stand-off' wars. That means a line of technology development that includes, vitally, the ability of continuous satellite monitoring. India's own space programmes need to take note, and quickly. STORY CONTINUES BELOW THIS AD Control of the Narrative Another issue to assess is control of the narrative. Even today, the imagery that is being discussed all over the internet is that of Iran. The damages to Israel were kept under wraps, with even the last missile strike by Iran, which mowed down three buildings at Beersheba, with casualties estimated at 4, which seems incredible given the clearly apparent destruction. But Israelis have long been used to violence and have safe rooms, standard procedures for quick evacuation and bunkers. What was hidden even more was the cost that Israel had to take on, with one estimate putting this at $3 billion in immediate costs, while tax authorities estimate costs at more than double the sum of claims stemming from the October 7 attack plus all 615 days since. And that's just claims for damages to property. Apart from this is the loss of man hours and its effect on gross domestic product. But the point is that none of this was apparent in an independent media, with the opposition swiftly putting aside rivalry in a show of national solidarity. It was only after a truce was declared that the Opposition lambasted Trump for interfering in the criminal charges against Netanyahu, which began in 2020 for fraud and breach of trust. Israel, like India, enjoyed widespread support after the first Hamas attack, which, however, rapidly deteriorated as its war entered its 629th day. STORY CONTINUES BELOW THIS AD Even the recent meeting of the North Atlantic Treaty Organisation saw a split – as did the G-7 meeting – over the question of the Iran war. In the end, the general consensus is that Iran can still make the bomb, perhaps in months. The takeaway of this lesson is probably that warmaking seldom wins friends and, in today's world, may not even deliver desired objectives. Far better to build up a narrative, as Defence Minister Rajnath Singh did recently when he refused to sign on to a joint statement of the Shanghai Organisation Cooperation while calling out the double standards on terrorism. But overall, here's the sum of it all. Internally, India has managed Kashmir without inordinate use of force; in fact, with 'one hand tied behind its back'. That, together with the manifold changes after the revocation of Article 370, had integrated Kashmir to the rest of India even more, not the other way around. That's something Tel Aviv should learn. But India has to, in turn, learn from Israel the contours of future war, where the enemy could be already well within the gates, wreaking havoc when it is given the signal. In this, both Pakistan and China are better placed than India. Time to reverse that, either with human assets – which are difficult for obvious reasons – and with technology. Future iterations of Operation Sindoor need to keep this clearly in the forefront. STORY CONTINUES BELOW THIS AD The author is Director (R&A) at the Centre for Land Warfare Studies. She tweets @kartha_tara. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost's views.
Time of India
23 minutes ago
- Time of India
Trump slams $30 billion Iran deal report as 'sick hoax' while supreme court hands him sweeping powers
It was a Friday of fire for Donald Trump, first came explosive headlines accusing him of planning a $30 billion civil nuclear deal with Iran, and then came a Supreme Court ruling handing him a game-changing expansion of presidential power. And, true to form, Trump was not in the mood for calm responses. Donald Trump demands prosecution over Iran Intel leak | Credit: X Trump explodes over 'ridiculous' $30 billion Iran deal report US media outlet CNN claimed that Trump's administration was considering offering Iran up to $30 billion in economic aid to develop a non-military nuclear programme, in exchange for halting uranium enrichment. That would be a massive pivot for the former president, who famously torched Obama's Iran nuclear deal back in 2018. But Trump is having none of it. Taking to Truth Social in his signature all-caps fury, the former president blasted the reports as 'FAKE NEWS' and 'just another HOAX.' He questioned which so-called journalist was behind the claim and doubled down on calling the media 'sick' for pushing what he said is a fabricated narrative. US President Donald Trump | Credit: X Sources claim the alleged deal included help from regional players to build nuclear facilities, but Trump insisted he had 'never heard' of such a plan. If true, the pivot would be monumental, coming just days after US strikes on Iranian nuclear sites and a surprise ceasefire deal brokered by Trump amid heightened Middle East tensions. Supreme court gives Trump a legal superpower While Trump was on the warpath online, the US Supreme Court handed him what he called a 'big, amazing decision' in his favour. The justices ruled that lower courts would face more limitations when blocking executive orders, a legal shift that significantly strengthens Trump's authority. Calling it a 'monumental victory for the Constitution,' Trump beamed at reporters from the White House podium. Legal experts now say this ruling could allow Trump to push through key elements of his second-term agenda with fewer judicial roadblocks. Donald Trump demands prosecution over Iran Intel leak | Credit: X Birthright citizenship: Next battle incoming? One of the first big policy moves expected is an attack on birthright citizenship. Trump's controversial executive order ending automatic citizenship for all babies born on US soil is now set to go into effect within a month. While the Supreme Court has not fully shut the door on legal challenges, it has given Trump a crucial head start.
Time of India
an hour ago
- Time of India
Qatar issues safety advisory after Iran's missile attack, urges residents to report any suspicious debris
This screen grab from AFPTV footage shows the remnants of an Iranian missile intercepted over Qatar on Monday, targeting the Al Udeid US Air Base. In the aftermath of a now-concluded military confrontation involving Iran, the United States, and Israel, the State of Qatar has issued a public safety alert, urging residents and citizens to report any suspicious debris possibly linked to a recent missile interception. The alert follows Iran's missile launch targeting the Al Udeid US Air Base in Qatar on Monday. In a joint statement, Qatar's Ministry of Defence and Ministry of Interior called on the public to exercise caution if they encounter unusual fragments or objects. The ministries stressed that any such material must not be touched or moved, citing the potential danger of hazardous substances. 'Handling such materials must be done exclusively by the competent authorities, due to the possibility that they may contain hazardous substances that could pose a threat to public safety,' the statement emphasized. The advisory comes in the wake of a missile attack by Iran, launched in retaliation for US strikes on several of Iran's nuclear sites during the recent 12-day conflict involving Israel and Iran. Former US President Donald Trump confirmed that 14 Iranian missiles were fired at the Al Udeid Air Base during the attack. According to Trump, 13 of those missiles were intercepted, and one was intentionally allowed to fall harmlessly to avoid unnecessary escalation. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo 'It was a very weak response,' Trump said, downplaying the impact of Iran's actions. In response to the missile launch, Qatar swiftly summoned the Iranian ambassador to lodge a formal protest. The Qatari government condemned the attack and reiterated its commitment to national sovereignty and the safety of its residents. The joint government statement also instructed the public to immediately report any unusual objects or fragments to authorities 'so that they may be dealt with in accordance with approved procedures.' Qatari authorities clarified that this is strictly a public safety matter and urged citizens not to panic but to remain vigilant. The potential risk stems from missile debris possibly falling in or around civilian areas due to the mid-air interceptions. In a gesture acknowledging the disruption caused by the attack, Qatar also announced the waiver of all traffic violations recorded on the day of the missile strike. This move is intended to alleviate additional stress for motorists affected during the event.
