President Donald Trump has once again launched a scathing attack on the central bank chief - this time calling him a “stubborn MORON” and demanding the Fed’s board of governors override him on interest rate decisions.
In a Truth Social post on Friday, Trump wrote: “Jerome ‘Too Late’ Powell, a stubborn MORON, must substantially lower interest rates , NOW. IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!”
Trump’s demand comes after the Fed again held its benchmark short-term interest rate steady at around 4.3%—the fifth time this year it has done so. Powell indicated it could take months before the Fed fully understands whether Trump’s sweeping tariffs will result in short-term inflation or lead to a more entrenched rise in prices.
“We’ve learned that the process will probably be slower than expected,” Powell said Wednesday, explaining that the Fed was in no rush to lower rates until the full economic impact of the tariffs becomes clearer.
But Trump, who argues that inflation is no longer a concern and that lower rates are needed to boost growth and reduce federal borrowing costs, has called for a dramatic cut of three percentage points to the Fed’s benchmark rate—far more than what any sitting Fed official currently supports.
While Powell has so far resisted political pressure, dissent is beginning to emerge inside the Fed’s own governing board. Governors Michelle Bowman and Christopher Waller recently broke ranks to vote for rate cuts, the first such split in over 30 years.
The Supreme Court has ruled that Trump cannot remove Powell over policy disagreements, though the White House has explored whether Powell could be ousted for cause, citing cost overruns in a \$2.5 billion renovation project.
Until his term expires in May 2026, Powell is expected to hold his ground. But Trump’s attacks suggest he is laying the groundwork for a reshaped Fed that more closely aligns with his views, should he win a second term.
“We have made no decisions about September,” Powell said this week, adding that any premature move to cut rates could fuel inflation, while waiting too long might weaken the job market.
In a Truth Social post on Friday, Trump wrote: “Jerome ‘Too Late’ Powell, a stubborn MORON, must substantially lower interest rates , NOW. IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!”
Donald J. Trump Truth Social 08.01.25 06:32 AM EST pic.twitter.com/dltoXHIhBX
— Fan Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) August 1, 2025
Trump’s demand comes after the Fed again held its benchmark short-term interest rate steady at around 4.3%—the fifth time this year it has done so. Powell indicated it could take months before the Fed fully understands whether Trump’s sweeping tariffs will result in short-term inflation or lead to a more entrenched rise in prices.
“We’ve learned that the process will probably be slower than expected,” Powell said Wednesday, explaining that the Fed was in no rush to lower rates until the full economic impact of the tariffs becomes clearer.
But Trump, who argues that inflation is no longer a concern and that lower rates are needed to boost growth and reduce federal borrowing costs, has called for a dramatic cut of three percentage points to the Fed’s benchmark rate—far more than what any sitting Fed official currently supports.
While Powell has so far resisted political pressure, dissent is beginning to emerge inside the Fed’s own governing board. Governors Michelle Bowman and Christopher Waller recently broke ranks to vote for rate cuts, the first such split in over 30 years.
The Supreme Court has ruled that Trump cannot remove Powell over policy disagreements, though the White House has explored whether Powell could be ousted for cause, citing cost overruns in a \$2.5 billion renovation project.
Until his term expires in May 2026, Powell is expected to hold his ground. But Trump’s attacks suggest he is laying the groundwork for a reshaped Fed that more closely aligns with his views, should he win a second term.
“We have made no decisions about September,” Powell said this week, adding that any premature move to cut rates could fuel inflation, while waiting too long might weaken the job market.
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