President Donald Trump went after Federal Reserve Chair Jerome Powell early Thursday in yet another rant over his continued refusal to drop interest rates, calling him a “total loser” and blaming him for “costing our country trillions of dollars.”
“Jerome ‘too late’ Powell has done it again!” Trump wrote in a post on his social media platform Truth Social.
“He is too late, and actually, too angry, too stupid and too political to have the job of Fed chair. He is costing our Country trillions of dollars, in addition to one of the most incompetent, or corrupt, renovations of a building(s) in the history of construction! Put another way, ‘too late’ is a total loser, and our country is paying the price!”
Trump has long called for Powell to lower interest rates, which currently sit at around 4.33%, and has floated the idea of replacing him in his spot leading the Federal Reserve. After receiving some blowback, however, Trump has walked that idea back, and instead has shifted to launching an investigation into Powell over a series of renovations to the central bank headquarters in Washington, D.C.
Trump has also labeled Powell as a partisan actor, pointing to the interest rate cuts he and the Federal Reserve implemented under former President Joe Biden.