U.S. President Donald Trump has sharply criticized Federal Reserve Chairman Jerome Powell, blaming him for delaying interest rate cuts and causing huge losses to the country.
In a post on social media, Trump said Powell’s inaction is “costing our country hundreds of billions of dollars.” He described Powell as “one of the dumbest and most destructive people in government,” and said the Federal Reserve Board is “complicit” in the damage.
Trump pointed out that European countries have already made 10 rate cuts, while the U.S. has made none. He said interest rates in America should be 2.5 percentage points lower, which could save “billions” in short-term debt costs for the Biden administration.
Highlighting the low inflation in the U.S., Trump called the delay a major mistake. He ended his message saying, “TOO LATE’s an American Disgrace!”
Federal Reserve kept interest rates unchanged at 4.50%, pointing to persistent inflation, uncertainty over tariffs, and a weaker economic outlook. It also indicated only one rate cut in 2025. Reacting sharply, Donald Trump criticized Fed Chair Jerome Powell, saying rates should be 2% lower, and jokingly added, “Maybe I should appoint myself to the Fed.”
His comments come as pressure grows on the Fed to ease monetary policy amid signs of slowing inflation.
