President Trump slammed Fed Chair Jerome Powell on Thursday, calling him a “political hack” and questioning his intelligence, after he refused to cut interest rates for the fifth time since December on Wednesday. On the same day that Powell and the Federal Open Market Committee (FOMC) refused to cut rates, new GDP data came out showing 3% growth, which President Trump hailed as “WAY BETTER THAN EXPECTED.” Still, despite this growth, along with hundreds of billions of dollars in new business investment and hundreds of billions of dollars in tariff revenues into the United States, Powell and the FOMC decided to maintain interest rates at the current level. Conversely, Powell cut interest rates three consecutive times before the 2024 election, with a large .5% cut in…
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