President Donald Trump was asked about Jerome Powell and whether or not the Fed chair's job is safe. Trump told White House reporters Tuesday afternoon, "Let's see what he does," ahead of the Federal Reserve decision on interest rates.
Cramer explained why Trump is pushing back against the Federal Reserve.
"The president really wants a national economic policy. The national economic policy he wants is like what Draghi has, which is we're going to cut rates, we're going to drive the Euro down," said Cramer.
"So, therefore, we're going to use America to get our economy going. And what the president says is okay, and what they want to play that game, we'll play that game. But Powell won't play the game. Right? So the president doesn't have the rank and file within that he needs," Cramer continued. "The president wants Powell to debase the dollar by cutting rates radically and no sale of bonds. And the difficulty for that is that he doesn't have the power to do that. And I think the president is completely frustrated that he doesn't have that power. I mean, he's thinking, why can't I have the power that [President] Xi has? Why can't I have the power that [Vladimir] Putin has?"
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