Jerome Powell, Chairman of the US Federal Reserve, takes part in a press conference after the explanation of the Federal Open Market Committee on interest rate policy in Washington, DC, USA, was exhibited on June 18, 2025.
Kevin Mohatt | Reuters
President Donald Trump tore Jerome Powell into the Federal Reserve Chairman on Thursday and described him “destructive” after the central bank kept the interest rates stable on Wednesday.
Trump said that “Powell costs” the United States “hundreds of billions of dollars” by not lowering the tariffs and a familiar criticism against the Fed chair, which repeatedly ignored Trump's pressure campaign to lower interest rates.
“We should be 2.5 points lower and save in the short -term debt of bidges of bidges,” Trump wrote on Thursday about the social of truth.
Trump also criticized Powell late Wednesday and called him a “real dummy” in a social contribution to close -up.
Powell, whose term of office ends in May 2026, said on Wednesday that “for the time being we are well positioned in order to learn more about the probable economic course before we consider adjustments to our guidelines.”
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Trump's statements were a reaction to the federal committee of the federal committee, which aimed at between 4.25%and 4.5%of its credit rate, which has corresponded to that since December.
The criticism was not surprising because President Powell has been beating up for a long time because he did not lower the interest rates.
On Wednesday morning, hours before the Fed was supposed to publish your decision on interest rates, Trump said: “So we have a stupid person. To be honest, you will probably not shorten today.”
“Europe had 10 cuts and we didn't have any. And I think he is a political guy, I don't know. He is a political guy who is not a clever person, but he costs the country a fortune,” he said in front of the white house.
Trump even thought about appointing the lead of the Federal Reserve and said: “I would do a much better job than these people.”
Trump said that he wants to announce his choice for the next chairman of the Federal Reserve “very soon”.
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