Trump Slams Fed Chair After Policy — 'Powell Is The Worst', 'Real Dummy'
The Fed maintained its benchmark overnight borrowing rate in the 4.25% to 4.5% range—fourth time in a row— where it has remained since December.
US President Donald Trump slammed US Federal Reserve Chair Jerome Powell on Thursday, over unchanged interest rates.
"Too Late—Powell is the WORST. A real dummy, who’s costing America $Billions!" Trump wrote on Truthsocial. “Fannie, Freddie regulator: Powell should cut rates or quit," he said.
The Fed maintained its benchmark borrowing rate in the 4.25% to 4.5% range for the fourth time in a row, where it has remained since December. Despite holding rates steady, the central bank lowered its growth forecast and raised its inflation outlook for 2025. It also signalled expectations for two rate cuts later this year.
Trump has repeatedly called on Powell and the Fed to cut interest rates even as the US economy faces shocks from his tariff and immigration policies.
“Uncertainty about the economic outlook has diminished but remains elevated. The Committee is attentive to the risks to both sides of its dual mandate,” said the Fed in a statement.
Meanwhile, Jerome Powell stated in a press conference on Wednesday after the Federal Open Market Committee that uncertainty remains high amid tariff tensions and Middle East crisis.
The effects of Trump tariffs will depend, among other things, on their ultimate level, he said. "Increases in tariffs this year are likely to push up prices and weigh on economic activity.”
This is in contrast to Trump's repeated assertion that tariffs will hit other countries.
