Part 3/7:
The voices of financial experts have echoed Trump's sentiments about the mismanagement under Powell's tenure. Jamie Dimon, a prominent banker, articulated that the mismanagement within the economy is indeed "extraordinary." Trump and his allies highlighted alarming statistics that showcased a 47% increase in job cuts, comparing May 2023 with May 2022, which equated to over 100,000 layoffs across various major corporations, including Proctor & Gamble, Walt Disney, Microsoft, and Amazon.
Experts suggest these layoffs present a compelling reason for Powell to consider a cut in interest rates. Notably, events in Europe have demonstrated proactive measures—amid a dropping inflation rate that recently hit 2%—the European Central Bank made its eighth consecutive cut to interest rates.