Navarro touts 'Trumpnomics' in rant against Powell, Federal Reserve

Source: The Hill

07/13/25 7:00 AM ET


White House senior trade adviser Peter Navarro touted “Trumpnomics” in a recent interview during a rant against Jerome Powell, slamming the Federal Reserve chair as a “pure partisan” actor who, in his view, is holding back the economy.

“So, here’s the deal. It’s like in the first term, when President Trump was in, Powell gets up to the chair, and the first thing he starts doing is raising rates, because he doesn’t understand how powerful Trumpnomics is and be able to generate strong growth without generating inflation,” Navarro, a frequent critic of Powell, said during his appearance on John Catsimatidis radio show “Cats Roundtable” on WABC 770 AM.

“He cost this country a full point of growth per year, which is just a lot of jobs, close to a million jobs,” he added. “It’s billions of dollars in tax revenues and so things. And then second, when he’s in with Biden in order to get reappointed, he cozies up the Biden, pure partisan political c—, and he doesn’t raise interest rates when Biden and then, God, the Democrat Congress are spending money like drunken sailors, driving the inflation rate. Not taking care of supply chains.”

Trump and officials in his administration have criticized Powell in recent months over the central bank’s decision to keep interest rates steady despite inflation cooling slightly. Powell has defended the decision not to reduce rates, with the Fed wanting to observe the effects of Trump’s tax cut plans and trade agenda.

Read more: https://thehill.com/homenews/administration/5398539-navarro-touts-trumpnomics-in-rant-against-powell-federal-reserve/