Trump hits Jerome Powell after Fed keeps stable rates

President Donald Trump got into the president of the Federal Reserve, Jerome Powell, on Thursday, calling him “destructive”, after the Central Bank kept the stable interest rates on Wednesday.

Trump said “Too Late” Powell is costing the United States “hundreds of billions of dollars” by not reducing rates, leveling a family criticism against the president of the Fed who has repeatedly ignored the Trump pressure campaign to reduce rates.

“We should be 2.5 lower points and save one billion in all Biden’s short -term debt,” Trump wrote on Thursday about Truth Social.

Trump also criticized Powell on Wednesday night, calling him a “true doll” in a social publication at night.

Powell, whose term ends in May 2026, said Wednesday that: “At the moment, we are well positioned to wait to learn more about the probable course of the economy before considering any adjustment to our policies.”

Trump’s comments were in response to the Federal Open Market Committee, maintaining their indebtedness rate directed in a range between 4.25%and 4.5%, which is along with where it has been since December.

The criticisms were not surprising, since the president has criticized Powell for not reducing interest rates.

As recently as Wednesday morning, hours before the Fed was scheduled to release its decision on interest rates, Trump said: “So we have a stupid person. Frankly, it probably is not cut today.”

“Europe had 10 cuts, and we had none. And I suppose it is a political guy, I don’t know. He is a political guy who is not an intelligent person, but he is costing a fortune to the country,” he said outside the White House.

Trump even reflected on designating himself to direct the Federal Reserve, saying: “I would do a much better job than these people.”

Trump has said he intends to announce his election for the next president of the Federal Reserve “very soon.”