'I know more than he does': Trump slams Fed chair Powell at 100-day rally

At his 100-day rally, US President Donald Trump reignites feud with Federal Reserve Chairman Jerome Powell, and defends tariffs as tools to revive US manufacturing

At a rally marking his 100th day in office, US President Donald Trump renewed his attacks on Federal Reserve Chairman Jerome Powell while defending his controversial tariffs policy. Speaking in suburban Detroit, Trump criticised Powell’s handling of monetary policy, despite inflation easing and interest rates falling. 

“Inflation is basically down and interest rates came down despite the fact that I have a Fed person who’s not really doing a good job,” Trump said. “You’re not supposed to criticise the Fed. You’re supposed to let him do his own thing — but I know much more than he does about interest rates.”

 

 

Trump justifies tariffs as strategic flexibility

Turning to trade policy, Trump described tariffs as a strategic tool that provides leeway for companies to bring manufacturing back to the US. “We gave them a little bit of time before we slaughter them,” he warned, calling the tariffs “a little flexibility” aimed at encouraging domestic production. 

Despite ongoing friction with Powell, Trump had earlier said he would not remove the Fed chair, even as he continued to express frustration over the pace of rate cuts. Markets, already jittery over Trump’s tariff actions, reacted negatively to speculation that Powell might be replaced. 

Addressing declining poll numbers, Trump dismissed recent surveys as “biased”, particularly those questioning public confidence in his economic approach. He positioned tariffs as necessary groundwork for his upcoming tax reform bill, which proposes eliminating taxes on tips, overtime, and Social Security income. 

Trump also issued a warning to Republicans opposing his economic agenda, urging his supporters to remember those lawmakers at the ballot box. “Remember who those grandstanders are and vote them the hell out of office,” he said.   

 

Rally highlights: Focus on trade and manufacturing

The Michigan event, set against the backdrop of Trump’s aggressive trade agenda, was staged in Macomb County — a former Democratic stronghold that helped deliver his 2024 re-election victory by flipping in his favour. The area, which supported Trump by 56 per cent, symbolises the blue-collar support that has been central to his political resurgence. 

Communities near Detroit, home to major auto manufacturers like General Motors and Stellantis, have largely welcomed Trump’s trade policies, hopeful for a revival in US manufacturing. However, industry leaders have warned that tariffs may lead to unintended consequences, including job losses and production halts, Mint reported. 

For instance, Stellantis recently suspended operations at several plants in Michigan, Indiana, and Canada to adjust to new import duties, leading to temporary layoffs. Production at its Warren Truck Assembly Plant, where the Jeep Wagoneer is built, also paused due to engine shortages but is expected to resume in early May. 

United Auto Workers President Shawn Fain, who supports Trump’s automotive tariffs, pointed to the Warren facility as a potential site for rehiring furloughed workers. 

Trump told the crowd his tariffs “haven’t even really kicked in yet”, and expressed confidence in his ability to strike trade deals — even with nations like China, which have so far been resistant. “I think it’s going to work out,” he said.   

 

Record-low approval, but policy push continues

Despite his defiant tone, Trump enters the second quarter of his term with historically low approval ratings for a president at this stage. An ABC News/Washington Post/Ipsos poll puts his approval at 39 per cent, while a CNN survey shows 41 per cent support — figures driven by economic anxieties and recession fears. 

Still, immigration remains a strong point for the US President, who has stepped up deportations and border enforcement.

In his second term, President Trump has moved swiftly to overhaul federal governance, issuing numerous executive orders on AI, energy, and appliance standards. Tech billionaire Elon Musk is leading efforts to cut government spending and trim the federal workforce. 

Internationally, Trump is pressing North Atlantic Treaty Organisation (NATO) allies to raise defense spending and asserting US interests, including navigation rights at the Panama Canal. He recently visited Michigan and is set to speak in Alabama.

 

[With inputs from Bloomberg]