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American Focus > Blog > World News > Wall Street Journal Exposes Trump’s ‘Biggest’ Mistake In Decades
World News

Wall Street Journal Exposes Trump’s ‘Biggest’ Mistake In Decades

Last updated: April 22, 2025 12:38 pm
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Wall Street Journal Exposes Trump’s ‘Biggest’ Mistake In Decades
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The Wall Street Journal recently criticized President Donald Trump’s threat to dismiss Federal Reserve Chairman Jerome Powell for refusing to lower interest rates, as Trump has been demanding.

The newspaper’s editorial board highlighted that the issue lies not in interest rates but in Trump’s inconsistent approach to tariffs, which could lead to higher inflation and slower economic growth. This uncertainty has caused market instability and investor concerns.

In a scathing statement, the editorial board stated:

“Mr. Trump may try to intimidate everyone into compliance, but he cannot intimidate Adam Smith, who operates in reality. The markets understand that tariffs are essentially taxes, which hinder growth. The Trump administration’s tariffs represent a significant economic blunder, and even extending the tax reforms and deregulation from 2017 may not offset the damage.”

This criticism follows the White House’s announcement that they are exploring ways to remove Powell, with Trump reiterating his demand for interest rate cuts on Monday.

As a result of these actions, the Dow Jones Industrial Average experienced a significant drop, leading to decreased confidence in stocks, bonds, and the dollar.

The independence of the Federal Reserve Chair from day-to-day politics is crucial, and it remains uncertain whether Trump has the authority to dismiss Powell. Most experts believe that he does not have this power.

Even if Trump were successful in removing Powell, the Journal points out that the Chair does not make policy decisions alone. The Federal Open Market Committee consists of 12 members, and Trump does not have the authority to dismiss them.

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The Journal advises Trump to consider a different approach, suggesting:

“Effective leaders pay attention to market signals and adjust their strategies. The appropriate course of action now would be to negotiate an end to the tariff disputes swiftly. Secure some wins in trade deals and move on. However, the markets are unsettled because it is unclear if Trump is receptive to inputs other than his own instincts.”

Read the full editorial here.

TAGGED:BiggestDecadesExposesJournalMistakeStreetTrumpsWall
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