- Trump lashed out at Fed Chair Jerome Powell for not slashing rates, calling him “Too Late.”
- He pointed to booming stocks and crypto as evidence the economy is roaring—and needs lower rates.
- The Fed, however, remains cautious, with only a couple members backing cuts anytime soon
Donald Trump isn’t holding back—again. On Thursday, the former president lit up Truth Social with a barrage of posts hammering Federal Reserve Chair Jerome Powell, whom he nicknamed “Too Late,” for dragging his feet on cutting interest rates. According to Trump, the booming U.S. economy—and markets—deserve better.
“Tech Stocks, Industrial Stocks, & NASDAQ HIT ALL-TIME RECORD HIGHS!” Trump posted, in his trademark all-caps style. “CRYPTO, ‘Through the Roof.’ NVIDIA IS UP 47% SINCE TRUMP TARIFFS. USA is taking in Hundreds of Billions of Dollars in Tariffs.” It was part brag, part pressure campaign—Trump-style economics on full display.
Trump Calls for Swift Rate Cuts
In another post, he got even more emphatic: “Country is now ‘back.’ A great credit! Fed should rapidly lower rate to reflect this strength. USA should be at the ‘top of the list.’ no INFLATION!!!” He accused Powell of damaging America’s credibility, writing, “’Too Late’ DEMEANS THE GREAT CREDIT OF THE USA.” Trump topped it off with a final push: “We are now, again, the Number One Credit in the World! ‘Gigantic Comeback.’ The Fed Rate should be reflective of this. We should be at the top of the list!!! LOWER THE RATE!!!”
Fed Stays Cautious, Inflation Concerns Linger
But over at the Fed? They’re not quite sold. The minutes from the June 17–18 meeting show that only “a couple” officials supported cutting rates in the immediate term. Most are still wary of inflation, especially as Trump’s aggressive tariff strategy reshapes global trade. A few policymakers don’t think a cut is needed at all right now.
Clash Between Political Fire and Monetary Policy
So, while Trump’s calling for rapid, sweeping rate reductions—and even Powell’s resignation—the central bank seems in no rush to follow his lead. As usual, it’s a clash of political fireworks versus monetary caution.
