President Donald Trump launched another scathing attack on Federal Reserve Chair Jerome Powell on Truth Social Thursday, blaming him for costing the U.S. “hundreds of billions of dollars” by not cutting interest rates.
“‘Too Late’ Jerome Powell is… one of the dumbest, and most destructive, people in Government,” Trump wrote, accusing the Fed of inaction while Europe has already made 10 rate cuts. He argued U.S. rates should be 2.5 percentage points lower, which would save billions on federal debt rolled over under President Biden.
The post comes amid growing pressure from Trump for aggressive rate cuts, while the Fed has held rates steady in recent months, citing delayed signs of tariff impact. Powell has not responded publicly to the latest remarks.
