President Donald Trump renewed criticism of Federal Reserve Chairman Jerome Powell as he championed his economic policies and tariff regime during a Tuesday event to mark his 100th day in office.
“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 at a rally just outside of Detroit, Michigan.
“You’re not supposed to criticize the Fed,” Trump said. “You’re supposed to let him do his own thing — but I know much more than he does about interest rates.”
Trump wrapped the criticism in a broader defense of his signature economic policies, arguing that his sweeping tariff program would inspire a wave of economic growth and lure manufacturers back to the US. Yet hours before the rally, Trump signed directives easing some of his planned tariffs — including a two-year reduction in 25% auto parts levies for components used in cars and trucks finished in the US.
The president cast the move as “a little flexibility” designed to offer companies time to move their manufacturing back – while issuing a dire warning to automakers who might still look to import parts.
“We gave them a little bit of time before we slaughter them,” Trump said.
Polls show voters are wary of Trump’s economic agenda and worried that the tariffs could tip the economy into a recession and spike consumer prices. Consumer confidence in April hit a five-year low.
While Trump in Michigan dismissed the surveys as biased against him, he sought to rebuild support for his economic agenda — framing the tariffs as a necessary step to offset the cost of his upcoming tax legislation.
The bill is an extension of his 2017 tax cuts, but with additional items including eliminating the tax on tipped wages, Social Security and overtime pay. He warned about possible Republican detractors, saying they should be challenged if they fail to support his agenda.
“Remember who those grandstanders are and vote them the hell out of office,” Trump said.
The event marked the fabled benchmark of early presidential success before an audience caught squarely in the middle of Trump’s campaign to overhaul global trade and rebuild the US industrial base.
Doug King, 30-year-old Stellantis employee attending Trump’s rally, said he was excited by the president’s trade vision and believes a boost to US manufacturing will happen “quicker than you think.”
“He doesn’t want to hurt the companies. He’s trying to save the companies,” King said. “He’ll tweak deals — he’ll tweak everything — to make it work.”
Trump told rallygoers his tariffs “haven’t even really kicked in yet,” but reiterated his belief he’d be able to broker deals even with countries such as China that thus far have refused to engage in serious negotiations.
“I think it’s going to work out,” Trump said.
Approval Rating
Trump’s 100-day victory lap comes despite polls showing his approval ratings sinking to the lowest level in decades for presidents at this milestone in their terms. Those marks have been driven down over concerns about his handling of the economy and fears of a potential recession.
Just 39% of respondents in an ABC News/Washington Post/Ipsos poll said they approve of Trump’s performance as president, while a CNN survey marked a 41% approval rating.
Immigration remains an area of relative strength for the Republican president who has intensified the government effort to deter border crossings and deport foreign nationals in the US illegally.
Trump’s second term has also been marked by a campaign to rapidly remake the government, with billionaire Elon Musk leading a sweeping effort to slash federal spending and downsize the workforce.
The president has moved at breakneck speed to overhaul federal policy, having issued scores of executive orders setting in motion regulatory shifts and other changes on subjects ranging from appliance standards and artificial intelligence, to communications and coal.
Trump is also presiding over a broad effort to overhaul Washington’s relationships overseas, having renewed his first-term push for European allies to boost NATO contributions, while demanding free passage for US vessels at the Panama Canal, discussing a potential acquisition of Greenland and musing about how Canada should serve as the 51st US state.
Trump’s speech followed a visit to Selfridge Air National Guard Base with Michigan’s Democratic Governor Gretchen Whitmer. Later this week, the president is set to deliver a commencement address at the University of Alabama.
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