Story perspectives

Trump Stands by Powell, Blames Biden for GDP Decline

5/5/2025

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Summary

Story summary

President Trump confirmed Jerome Powell will remain as Federal Reserve Chair until at least May 2026, despite his criticisms.
He attributed the first-quarter GDP decline to Biden's policies while highlighting his own economic achievements.
Trump implemented tariffs, asserting they would benefit American consumers, and is negotiating trade deals with over 15 nations.
He recognized challenges in trade relations with China but expressed interest in reaching a resolution.

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Story summary

President Trump confirmed Jerome Powell will remain as Federal Reserve Chair until at least May 2026, despite his criticisms.
He attributed the first-quarter GDP decline to Biden's policies while highlighting his own economic achievements.
Trump implemented tariffs, asserting they would benefit American consumers, and is negotiating trade deals with over 15 nations.
He recognized challenges in trade relations with China but expressed interest in reaching a resolution.