Trump Intensifies Criticism of Fed Chair Powell
(MENAFN) On Wednesday, U.S. President Donald Trump reiterated his demand for the Federal Reserve to slash interest rates, insisting that the current levels are three percentage points “too high.”
Trump directed his criticism once again at Fed Chair Jerome Powell, assigning him the nickname "Too Late" in reference to Powell's delayed response in reducing rates compared to other global central banks that had already initiated monetary easing.
Trump emphasized the economic impact of Powell’s actions, stating on social media: “‘Too Late’ is costing the U.S. 360 Billion Dollars a Point, PER YEAR, in refinancing costs,” adding, “No Inflation, COMPANIES POURING INTO AMERICA. ‘The hottest Country in the World!’ LOWER THE RATE!!!”
In a separate message online, the president intensified his critique, simply writing: “ANYBODY BUT ‘TOO LATE.’”
Trump has made repeated calls for the Federal Reserve to cut interest rates, often pointing to European central banks as examples and warning that further hesitation could hinder the American economy’s growth.
Just last week, Trump went further by declaring that Powell “should resign immediately.” Over time, Trump has launched a series of verbal attacks against Powell, calling him “terrible,” “a fool,” “a major loser,” and a “numbskull.”
According to a news outlet, Trump is now contemplating a potential replacement for Powell and views White House economic adviser Kevin Hassett as a prominent candidate for the Federal Reserve's top position.
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