Wells Fargo CEO says Trump is entitled to be vocal about the Fed

Wells Fargo CEO Charlie Scharf, Federal Reserve’s independence “absolutely” support, but President Donald Trump’s Central Bank’s monetary policy should be free to express his beliefs.

He said the FED should be independent and now independent. However, Trump’s interest rates and the Fed’s independence between the President, he added.

“I think the management has the right to become vocal in this regard and the Fed should do what he believes he should do on the basis of the information he sees.” He said.

Scharf is not new for politicians to give their thoughts about the Fed’s decisions, but Trump is “very vocal” about them.

Trump has repeatedly called for the Central Bank to reduce interest rates and refers to the FED President Jerome Powell, whom he referred to the Federal Open Market Committee, has launched unprecedented attacks on the “too late” aspect to prevent the comparison interest rate since December 2024.

The President also tried to ignite the Fed Governor Lisa Cook in August after Bill Pulte, a housing finance chief accused him of mortgage fraud. On Tuesday, while a judge prevented the dismissal of Cook, a case that challenges the movement passes through the court system.

Since the latest inflation data is lighter than expected and the labor market shows symptoms, the market expects the Fed to reduce interest rates at the September meeting at the September meeting. CME FEDWATCH Currently, the Central Bank’s chance of lowering 25 basis points is calculating 10% of the chance to reduce 90% and 50 basis points.

“‘Too late’ should reduce the ratio, big, right now. Powell is a complete disaster, no clue !!!” Embers published It is actually social on Wednesday morning.