Latest news with #TrumpDerangementSyndrome
Time of India
9 hours ago
- Business
- Time of India
Trump says he wants interest rate cut to 1%, would 'love' if Powell resigned
U.S. President Donald Trump said on Friday he would "love" if Federal Reserve Chair Jerome Powell were to resign, and the president also said he wanted interest rates cut to 1%. KEY QUOTES by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Specialist Down Jackets for Ultralight Adventures Trek Kit India Learn More Undo "I'd love him to resign if he wanted to, he's done a lousy job," Trump said, also labeling the Fed chair as "stupid." "I think we should be paying 1% right now, and we're paying more because we have a guy who suffers from, I think, Trump Derangement Syndrome ," Trump added. WHY IT'S IMPORTANT Trump has long attacked the Federal Reserve chair over interest rates that the U.S. president wants lowered. Fed chairs have long been seen as insulated from presidential dismissal for reasons other than malfeasance or misconduct, but Trump has threatened to test that legal premise with frequent threats to fire Powell. Live Events Powell's term ends in May 2026, and Trump is expected to nominate a successor in the coming months. CONTEXT Trump said he will name as successor to Powell someone who will lower rates. Last week, the Fed decided to leave short-term borrowing costs in the 4.25%-4.50% range.
India Today
11 hours ago
- Business
- India Today
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 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 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 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 confirmed on Friday that if he were given the chance, he would appoint a successor more in tune with his economic 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
Yahoo
16 hours ago
- Business
- Yahoo
Trump says he wants interest rate cut to 1%, would 'love' if Powell resigned
By Trevor Hunnicutt and Kanishka Singh WASHINGTON (Reuters) -U.S. President Donald Trump said on Friday he would "love" if Federal Reserve Chair Jerome Powell were to resign, and the president also said he wanted interest rates cut to 1%. KEY QUOTES "I'd love him to resign if he wanted to, he's done a lousy job," Trump said, also labeling the Fed chair as "stupid." "I think we should be paying 1% right now, and we're paying more because we have a guy who suffers from, I think, Trump Derangement Syndrome," Trump added. WHY IT'S IMPORTANT Trump has long attacked the Federal Reserve chair over interest rates that the U.S. president wants lowered. Fed chairs have long been seen as insulated from presidential dismissal for reasons other than malfeasance or misconduct, but Trump has threatened to test that legal premise with frequent threats to fire Powell. Powell's term ends in May 2026, and Trump is expected to nominate a successor in the coming months. CONTEXT Trump said he will name as successor to Powell someone who will lower rates. Last week, the Fed decided to leave short-term borrowing costs in the 4.25%-4.50% range. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
16 hours ago
- Business
- Reuters
Trump says he wants interest rate cut to 1%, would 'love' if Powell resigned
WASHINGTON, June 27 (Reuters) - U.S. President Donald Trump said on Friday he would "love" if Federal Reserve Chair Jerome Powell were to resign, and the president also said he wanted interest rates cut to 1%. "I'd love him to resign if he wanted to, he's done a lousy job," Trump said, also labeling the Fed chair as "stupid." "I think we should be paying 1% right now, and we're paying more because we have a guy who suffers from, I think, Trump Derangement Syndrome," Trump added. Trump has long attacked the Federal Reserve chair over interest rates that the U.S. president wants lowered. Fed chairs have long been seen as insulated from presidential dismissal for reasons other than malfeasance or misconduct, but Trump has threatened to test that legal premise with frequent threats to fire Powell. Powell's term ends in May 2026, and Trump is expected to nominate a successor in the coming months. Trump said he will name as successor to Powell someone who will lower rates. Last week, the Fed decided to leave short-term borrowing costs in the 4.25%-4.50% range.
Newsroom
6 days ago
- Politics
- Newsroom
Anne Salmond: Victim of the Day
Over the past week, something remarkable has happened. The Deputy Prime Minister of New Zealand has fronted an online campaign of harassment of scholars who have shared their views about his Regulatory Standards Bill, naming each of them as a 'Victim of the Day.' Each scholar has been accused of 'Regulatory Standards Derangement Syndrome,' a description borrowed from Donald Trump's followers, who accuse his critics of 'Trump Derangement Syndrome.' The portraits of each scholar are placed on David Seymour's Facebook page under this banner, and labelled 'Victim of the Day,' with online responses invited. The use of the term 'Victim of the Day' is, at best, careless. In the United States at present, political violence is escalating, with senators and their families being physically assaulted, even shot and killed. This has been associated with online incitements against individuals. No one in New Zealand, least of all the Deputy Prime Minister, can be unaware of these developments. In the United States, too, direct attacks by the Trump administration on universities, university scholars and their students have escalated from attacks on individual academics to attempts to take direct political control of what is taught on university campuses, by whom, and to whom, backed by the deployment of armed force including police and ICE agents. When universities such as Harvard have resisted these attempts, they have been punished by defunding their research and threats by the Trump administration to their right to admit international students. These and other attacks are happening to universities and other scientific institutions across the United States. At a time like this, it is extraordinary that a Deputy Prime Minister here should initiate an online campaign of intimidation against university scholars, using Trumpian rhetoric and tactics to harass them for exercising their academic freedom. In the United States, as in New Zealand, the independence of universities and academic freedom are designed as checks and balances on executive power, with the rule of law and the freedom of the press. All of these freedoms are being assailed in the United States at present. In New Zealand, the concept of academic freedom is specifically enshrined in legislation. Section 161 of the Education Amendment Act 1990 states: '161 Academic Freedom 1. It is declared to be the intention of Parliament in enacting the provisions of this Act relating to institutions that academic freedom and the autonomy of institutions are to be preserved and enhanced.' This requires that academics are free to offer commentaries within their fields of expertise without direct intimidation and harassment by politicians. The Act goes on to state: '2. For the purposes of this section, academic freedom, in relation to an institution, means – a. the freedom of academic staff and students, within the law, to question and test received wisdom, to put forward new ideas and to state controversial or unpopular opinions.' Without this kind of freedom, new ideas and discoveries are unlikely to emerge. In academic inquiry, they must be rigorously tested against the evidence, including robust exchanges and peer review. For this to work well, the debate has to be reasoned and civil. Academic freedom is a very old doctrine, designed to protect universities from those who seek to control research and teaching to advance particular political agendas, as in the United States at present. Such ambitions are typical of totalitarian, autocratic regimes, with the USSR and South Africa under apartheid as previous examples. This can come from any political direction. In New Zealand, for instance, the Education Act 1989 was drafted in response to an attempt by the Fourth Labour Government to take control over 'what was taught, by whom and to whom' in New Zealand universities. That effort was vigorously resisted, and as a result the Education Act was passed and enshrined academic freedom in our legislation, along with a section that requires universities to 'act as critic and conscience of society.' That, I think, is exactly what the 'Victims of the Day' were doing when they were attacked by the Deputy Prime Minister. From an array of different disciplinary perspectives, they were analysing and discussing the Regulatory Standards Bill as contributions to public debate. In many ways, the campaign launched and fronted by the Deputy Prime Minister is lame, even laughable. At the same time, it is an abuse of high office. For the Deputy Prime Minister of this country to deploy Trumpian rhetoric to single out individual scholars as 'Victims of the Day' is deplorable, given the requirements of the Education Act. It is also troubling, given its direct links with the political assault on universities that is happening in the United States. Worse still, this is a senior politician who has vigorously argued for freedom of speech in universities. Above all, every New Zealand citizen has the right to speak their minds about matters such as the Regulatory Standards Bill without being personally intimidated by politicians. If scholars whose academic freedom is legally protected under the Education Act can be singled out in this way, the freedom of speech of all New Zealanders is at risk. In New Zealand, the Cabinet manual requires ministers to 'behave in a way that upholds, and is seen to uphold, the highest ethical and behavioural standards. This includes exercising a professional approach and good judgement in their interactions with the public, staff, and officials, and in all their communications, personal and professional.' This 'Victim of the Day' campaign does not match this description. It is unethical, unprofessional and potentially dangerous to those targeted. Debate is fine, online incitements are not. Ultimately, all ministers are accountable to the Prime Minister for their behaviour. As one of David Seymour's 'Victims of the Day,' I ask that Christopher Luxon upholds the Cabinet manual, and requires the Deputy Prime Minister to withdraw and apologise to those he has targeted and harmed in this despicable campaign. I am formally lodging a complaint with the Cabinet Office, and look forward to its response.
