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Federal Reserve chair Jerome Powell should resign if he won’t cut interest rates, President Trump said on Friday.
President Trump called Powell a “moron” in a series of broadsides on his social-media platform Truth Social, after the Federal Reserve declined to cut interests rates for the fifth time in a row.
“Jerome ‘Too Late’ Powell, a stubborn MORON, must substantially lower interest rates, NOW,” Trump wrote.
“IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!”
After the government released a disappointing jobs report, Trump returned to Truth Social to blast Powell again.
“Too Little, Too Late. Jerome ‘Too Late’ Powell is a disaster. DROP THE RATE! The good news is that Tariffs are bringing Billions of Dollars into the USA!”
President Trump also hailed dissents from two members of the Fed’s rate-setting committee who disagreed with the decision not to cut the interest rate.
“STRONG DISSENTS ON FED BOARD. IT WILL ONLY GET STRONGER!”
Powell, who was appointed by Trump during his first term, has argued that the best approach for the Federal Reserve is to wait and see the effects of Trump’s tariff policy before cutting rates.
Later on Friday, the President appeared to moderate his tone, telling Newsmax Powell will “most likely” remain in his position; although he added that he would remove him “in a heartbeat” if necessary.
“He gets out in seven or eight months and I’ll put somebody else in,” Trump said.
