- Trump blasted Fed Chair Jerome Powell as “Too Late Powell,” criticizing his refusal to cut interest rates amid tariff uncertainty.
- Despite Trump’s insults, Powell reaffirmed that the Fed will focus solely on economic data and risk assessments.
- Trump backtracked on firing Powell, saying he has “no intention” of removing him before his term ends in 2026.
President Donald Trump took another swing at Federal Reserve Chair Jerome Powell on Thursday, just a day after the central bank decided to keep interest rates steady despite economic uncertainty stemming from Trump’s own tariff policies.
“If the chairman of the Fed … if he would lower interest rates like China did, like the UK did — but he doesn’t want to,” Trump told reporters. “I think he’s not in love with me. It’s sort of a crazy reason, but that’s the way life is.”
Earlier in the day, Trump called Powell “a fool” and later quipped, “It’s like talking to a wall,” when trying to convince the Fed to ease monetary policy. Trump even dubbed him “Too Late Powell,” claiming the Fed chief is always behind the curve.
Powell Stays Unmoved as Trump Ramps Up Criticism
On Truth Social, Trump unloaded more insults:
“‘Too Late’ Jerome Powell is a FOOL, who doesn’t have a clue. Other than that, I like him very much!” Trump wrote, adding that oil and energy prices are down and inflation is “virtually nonexistent” — a claim that contradicts Fed data.
Despite Trump’s outbursts, Powell remained composed during a post-meeting press conference, stating that the Fed would continue to focus solely on economic data. “We are always going to consider only the economic data, the outlook, the balance of risks and that’s it,” Powell said.
Trump Walks Back Powell Firing Talk, Sort Of
Last month, Trump spooked markets by suggesting he might try to fire Powell before his term ends in May 2026, a move that would shake the Fed’s independence. But in an NBC interview on Sunday, Trump backtracked, saying, “No, no, no… why would I do that? I get to replace the person in another short period of time.”
Still, in the same breath, he couldn’t resist another jab, calling Powell “a total stiff.” Trump initially appointed Powell during his first term and Biden reappointed him in 2022.
