President Donald Trump's early morning rant against Fed Chairman Jerome Powell, during which he called for Powell's ouster, drew quick response from political pundits.
The strong reaction came after Trump posted to social media about the European Central Bank and Powell's refusal to cut interest rates.
"The ECB is expected to cut interest rates for the 7th time, and yet, 'Too Late' Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete 'mess!'” Trump wrote. "Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!"
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Attorney George Conway posted a sarcastic response, writing, "President Donald J. Trump has filed a powerful (many strong men are saying, crying, “so powerful”!) pro se brief in the Supreme Court of the United States in support of UPHOLDING its decision in 𝘏𝘶𝘮𝘱𝘩𝘳𝘦𝘺'𝘴 𝘌𝘹𝘦𝘤𝘶𝘵𝘰𝘳 𝘷. 𝘜𝘯𝘪𝘵𝘦𝘥 𝘚𝘵𝘢𝘵𝘦𝘴, 295 U.S. 602 (1935)," while legal scholar Laurence Tribe sought to decipher Conway's writing: "Translating @gtconway3d into non-legalese & dropping the irony, there’s no way to distinguish the Fed from the NLRB as a matter of blanket presidential power to fire any member of the multimember board of an executive branch federal agency."
Progressive outlet MeidasTouch called Trump's rant an "EARLY MORNING TANTRUM," writing, "Trump, predictably, posts an angry message about Federal Reserve Chair Jerome Powell after Powell told the truth about the impact of Trump’s reckless tariffs on the economy, saying his 'termination cannot come fast enough.'"
Conservative group Republicans against Trump wrote, "Federal Reserve Chair Jerome Powell, appointed by Trump, stated yesterday that Trump’s insane trade war will lead to higher inflation and slower growth. Trump this morning: 'Powell’s termination cannot come fast enough!' Nothing like threatening the Fed to calm the stock and bond markets…"
"Trump lashes out at Fed Chairman Jerome Powell after Powell was honest about how bad tariffs could be for the economy," posted writer Brian Krassenstein. "Trump said: 'Jerome Powell is always too late and wrong. His termination cannot come fast enough.' Trump wants lower interest rates, but his tariffs will almost certainly increase inflation, which is the exact opposite of what the Fed needs to see in order to reduce rates. In other words, he’s demanding rate cuts while pouring gasoline on inflation."