- Trump slammed Fed Chair Powell as “Too Late,” criticizing his refusal to cut interest rates despite global central banks doing so.
- Despite bashing Powell, Trump claimed the U.S. economy is strong enough that rate cuts “won’t matter much.”
- Earlier, Trump took to social media, calling Powell “a FOOL” and accusing him of being clueless about economic policy.
President Donald Trump went after Federal Reserve Chair Jerome Powell again on Thursday, blasting him for refusing to cut interest rates despite Trump’s repeated calls to do so. “It’s like talking to a wall,” Trump quipped when asked if he’d meet with Powell, a remark that drew chuckles from Commerce Secretary Howard Lutnick and Vice President Vance, who were sitting nearby.
Trump didn’t hold back, dubbing Powell “Too Late” and accusing him of being out of step with global central banks. “The Bank of England cut, China cut — everybody’s cutting but him,” Trump said. “It’s a shame. ‘Too Late Powell,’ that’s his nickname.”
Economy “Too Strong” to Be Affected, Says Trump
Despite his digs at Powell, Trump also claimed the U.S. economy is so robust that rate cuts might not matter much. “In this case, it’s not going to matter that much because our country is so strong,” he said, insisting that America’s economic power could weather any fallout from Powell’s stance.
The Fed kept its target rate between 4.25% and 4.5% this week, the third consecutive hold after three rate cuts in the latter half of 2024. Powell defended the decision, citing solid economic fundamentals and saying the Fed could afford to wait and see how new trade and fiscal policies play out.
Trump’s Social Media Outburst
Earlier on Thursday, Trump vented his frustration on social media, calling Powell “a FOOL, who doesn’t have a clue.”
It’s not the first time Trump has publicly bashed Powell, a Republican he initially appointed in 2017 and who was later reappointed by former President Biden.
