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Investing.com -- Following the U.S. Federal Reserve’s decision to keep interest rates steady, President Donald Trump expressed strong criticism and outlined his own strategy to combat inflation. His comments were made on his Truth social media platform.
Trump blamed the Federal Reserve, and its Chairman, Jay Powell, for creating an inflation problem that they have failed to resolve. He stated his intention to address this issue by stimulating American energy production, cutting regulations, adjusting international trade balances, and boosting American manufacturing.
Trump’s plans extend beyond merely addressing inflation. He emphasized his desire to restore the financial strength of the United States, and enhance its overall power. He criticized the Federal Reserve for its performance in bank regulation and declared that the Treasury will spearhead efforts to cut unnecessary regulations, thereby facilitating lending for American people and businesses.
Trump also expressed his belief that if the Federal Reserve had focused less on Diversity, Equity and Inclusion (DEI), gender ideology, green energy, and what he referred to as "fake climate change", inflation would not have been an issue. He concluded by stating that the country has experienced the worst inflation in its history.
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