President Donald Trump blasted Federal Reserve Chair Jerome Powell in a testy message Thursday morning after Powell refused to bow down to his repeated demands that he lower interest rates.
“Jerome ‘Too Late’ Powell has done it again!!!,” Trump wrote on his social media platform, Truth Social. “He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair.”
He continued, “He is costing our Country TRILLIONS OF DOLLARS, in addition to one of the most incompetent, or corrupt, renovations of a building(s) in the history of construction! Put another way, ‘Too Late’ is a TOTAL LOSER, and our Country is paying the price!”
Trump’s scathing comments came a day after the Federal Reserve decided to keep rates where they are. The decision left the Fed’s short-term rate at 4.3%, where it has remained after the central bank made three cuts last year.
The Fed has not indicated any plans to lower rates for the time being despite growing pressure from Trump and his administration to do so. Trump and his appointees have been publicly condemning Powell for months over the Fed’s unwillingness to lower interest rates.
Trump, who earlier this month apparently forgot that he was the one who appointed Powell to begin with, publicly clashed with Powell last week over the cost of renovations for the Federal Reserve’s headquarters in Washington, D.C. when Trump stopped by the central bank.
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During the visit, Powell called out the world leader for falsely inflating figures for the renovation.