This is how Jerome Powell should respond:
“President Trump continues to call for rate cuts and resort to name-calling—but let’s be clear: he has absolutely no understanding of where interest rates should be. Inflation remains well above our 2% target, tariffs are set to drive prices even higher, and the Federal Government is running $2 trillion deficits with no credible path to fiscal discipline. Meanwhile, inflation expectations are rising—and so are asset prices. The stock market is at an all-time high. So is gold. So is Bitcoin. These are not signals of an economy in need of monetary stimulus. The Federal Reserve is committed to restoring price stability—and we will begin raising interest rates next week to ensure that happens. Thank you for your attention to this matter.”
My plan to revive American manufacturing is to: raise the price of inputs like steel, aluminum & copper; create shortages of rare earths; invite retaliatory tariffs; cut R&D; raise borrowing costs by blowing out the budget; and to cover it all in a thick cloud of uncertainty.