Trump Attacks Fed’s Powell, Calls Him "Total Loser"
(MENAFN) US President Donald Trump intensified his attacks on Federal Reserve Chair Jerome Powell on Thursday, labeling him "TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job" following the Fed's decision to maintain interest rates unchanged this week.
On social media, Trump declared, "Jerome 'Too Late' Powell has done it again!!!"
He accused Powell of inflicting massive financial damage, stating, "He is costing our Country TRILLIONS OF DOLLARS."
The president also branded Powell "a total loser," warning that the nation is bearing the consequences.
This backlash came after the Fed opted on Wednesday to keep the federal funds rate steady between 4.25% and 4.50%, rejecting President Trump's calls for cuts. The central bank cited a slowdown in US economic growth during the first half of the year as a factor in its cautious stance.
During Wednesday’s press briefing, Powell indicated the Fed might hold rates steady as it gauges the inflationary impact of tariffs championed by Trump.
He emphasized, "We don't do that in advance. We will be taking that information into consideration and all the other information we get," when discussing potential rate moves in the September meeting.
Trump has persistently pressured the Fed to reduce interest rates, referencing recent European central bank actions and warning that inaction could hamper the US economy.
In a forceful appeal, the president demanded, “LOWER INTEREST RATES!”
While Trump dismissed rumors about firing Powell before the Fed chair’s term expires next year, calling such a step "highly unlikely,” he hinted at the possibility of action over alleged "possible" fraud.
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