U.S. Federal Reserve Chairman Jerome Powell attended a press conference after he issued a statement on interest rate policy issued by the Federal Open Market Committee in Washington, DC on June 18, 2025.
Kevin Mohatt | Reuters
president Donald Trump Tear into the Federal Reserve Chairman Jerome Powell Thursday, after the central bank called him “destructive” Keep interest rates stable Wednesday.
“It’s too late” Powell lost “billions of dollars” to the United States by not lowering interest rates, a familiar criticism of the federal president, who has repeatedly ignored Trump’s pressure campaign to lower interest rates.
“We should cut 2.5 points and save billions of dollars,” Trump wrote on Thursday. Truth Social.
Trump also criticized Powell for calling him a “real dummy” late Wednesday late on Wednesday Truth Society Position.
“For the time being, we have the ability to wait to learn more about the possible economic processes before considering any adjustments to our policies,” Powell’s term ended in May 2026.
Trump’s remarks are in response to the Federal Open Market Committee Keeping its borrowing rate target between 4.25% and 4.5%which is comparable to its position since December.
The criticism is not surprising, as the president has long criticized Powell for not lowering interest rates.
Just Wednesday morning, hours before the Fed was preparing to release its interest rate decision, Trump said: “So we have a stupid guy. Frankly, you probably won’t cut it today. ”
“Europe has 10 cuts, we don’t. I think he’s a politician, I don’t know. He’s a politician who is not a smart guy, but he’s losing that country,” he said outside the White House.
Trump, who even indulged in appointing himself to lead the Fed, said: “I’m going to do much better than these people.”
Trump said he intends to declare him the draft pick for the next chairman of the Federal Reserve.soon. ”
