President Donald Trump slammed Federal Reserve Chair Jerome Powell again Thursday morning after the Fed opted to hold interest rates steady for the fifth straight meeting.
In a fiery Truth Social post, Trump called Powell “TOO ANGRY, TOO STUPID, & TOO POLITICAL” to serve as Fed Chair.
“He is costing our Country TRILLIONS OF DOLLARS,” Trump wrote. “Put another way, ‘Too Late’ is a TOTAL LOSER, and our Country is paying the price!”
The Federal Reserve Board of Governors voted 9-2 on Wednesday to keep interest rates in the 4.25% to 4.50% range. It marked the fifth consecutive meeting without a rate change.
During a press conference, Powell cited stubbornly high inflation and economic uncertainty from Trump’s tariffs — many of which take effect Friday — as reasons for the pause.
Trump, meanwhile, has continued pushing for cuts, saying lower inflation should prompt lower rates. Two Republican-appointed Fed governors, Christopher Waller and Michelle Bowman, dissented and supported cuts.
It was the first time since 1993 that multiple governors opposed a Fed rate decision. Both Waller and Bowman are reportedly being considered to replace Powell when his term ends in May 2026.
Despite the harsh criticism, Trump said last week he doesn’t plan to fire Powell, though he admitted drafting a letter to remove him and gaining support from some House Republicans.
“Fortunately, we get to make a change in the next eight months or so,” Trump said. “We want to see lower interest rates. Our country deserves it. We’re doing great.”