President Donald Trump escalated his war of words with Federal Reserve Chair Jerome Powell on Thursday morning, torching him as “TOO ANGRY, TOO STUPID, & TOO POLITICAL” just hours after the Fed once again refused to cut interest rates.
In a fiery Truth Social post, Trump vented his frustration over the central bank’s decision to hold interest rates steady for the fifth consecutive meeting. Trump, who has long criticized Powell for what he views as overly cautious monetary policy, called the Fed Chair a “TOTAL LOSER” and blamed him for costing the country “TRILLIONS OF DOLLARS.”
“He is costing our Country TRILLIONS OF DOLLARS, in addition to one of the most incompetent, or corrupt, renovations of a building(s) in the history of construction!” Trump wrote, alluding to ongoing renovations at the Federal Reserve’s headquarters. “Put another way, ‘Too Late’ is a TOTAL LOSER, and our Country is paying the price!”
The insult-laden post follows the Fed’s 9-2 vote on Wednesday to keep the benchmark interest rate between 4.25% and 4.50%. Despite declining inflation rates and a better-than-expected GDP report showing 3% economic growth in the second quarter, Powell pointed to continued inflationary concerns — including those driven by Trump’s tariff hikes — as reasons to keep rates elevated.
Trump has been pushing for a rate cut, arguing that inflation is no longer a threat and that the country needs cheaper borrowing costs to fuel housing and economic growth.
“We want to see lower interest rates. Our country deserves it,” Trump said this week. “We’re making a lot of money. We’re doing great as a country. We have no inflation, record stock market, record business, record everything.”
But Powell told reporters Wednesday that inflation “remains somewhat elevated” and highlighted Trump’s trade policies as contributing to upward price pressure. “Tariffs are pushing up prices in some categories of goods,” Powell said, adding that no decision has yet been made for the Fed’s September meeting.
Trump, clearly unmoved by the Fed’s logic, suggested that Powell’s actions were politically motivated and harmful to the economy. While the president said last week he does not plan to fire Powell — despite floating a draft letter and receiving encouragement from some House Republicans to do so — he made it clear that Powell’s days are numbered.
“Fortunately, we get to make a change in the next eight months or so,” Trump said. “And we’ll pick somebody that’s good.”
Two members of the Board of Governors, Christopher Waller and Michelle Bowman — both Republican appointees — dissented from the majority on Wednesday and advocated for a rate cut. Their dissent marked the first time since 1993 that multiple Fed governors voted against the board’s decision. Both Waller and Bowman are now being floated by insiders as likely successors to Powell once his term ends in May 2026.
Trump’s attack also reignites a longstanding feud that dates back to Powell’s early tenure during Trump’s first term. Though Trump appointed Powell in 2017, he has repeatedly criticized the Fed Chair over interest rate decisions, accusing him of being slow to act and costing the country trillions in potential economic gains.
The latest outburst also comes amid Trump’s renewed economic offensive on multiple fronts. On top of pressuring the Fed, the president has introduced sweeping new tariffs on countries like India and Brazil and is threatening others — including Canada — over diplomatic moves he views as contrary to American interests.
With tariffs taking effect Friday and rate cuts unlikely until at least September, Trump’s growing frustration with Powell is now spilling into public view in the most unfiltered terms yet. And with the president doubling down on populist economic rhetoric ahead of key legislative and trade deadlines, Powell may find himself increasingly in Trump’s crosshairs — until the day Trump can replace him outright.
The post Trump Unloads On Fed Chair Jerome Powell: ‘Too Angry, Too Stupid, & Too Political’ appeared first on Real News Now.
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