U.S. stock markets fell amid Trump’s criticism of the Fed chairman
Ekaterina Venkina
04.22.2025
The decline in major U.S. stock markets began after Trump's attacks on the chairman of the Federal Reserve, which serves as the country's central bank.#CryptoStocks #SwingTradingStrategy
A decline began in major U.S. stock markets amid reports that President Donald Trump may dismiss the chairman of the Federal Reserve, Jerome Powell. This was reported on Monday, April 21, by agencies Reuters, AP, and dpa.
Thus, the Dow Jones index closed trading down 2.48%, at 38,170.41 points. The Nasdaq 100 index, which consists mainly of technology company stocks, fell 2.46% - to 17,808.30 points.
Kevin Hassett, head of the National Economic Council at the White House, stated on April 18 that Trump is considering firing Powell.
Trump: "Many" are calling for "preemptive cuts"
On Monday, April 21, the head of the White House claimed on the social network Truth Social that "many" are calling for "preemptive cuts" to the key interest rate, as the economy faced what he called "virtually no inflation."
According to Trump, without these cuts the economy risks slowing down unless "Mr. Too Late, the chief loser," as he called Powell, "lowers interest rates, NOW."
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