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President Donald Trump unloaded his longest attack yet on Jerome Powell on Friday evening, five months after moving back into the White House. Speaking via Truth Social, Trump said he should’ve never made Powell head of the Federal Reserve and once again blamed him for costing the US up to $1 trillion a year by keeping interest rates too high. He said, “Too Late Powell complains about costs, much of which were produced by the Biden Fake ‘Government.’” Trump added that Powell should cut rates to between 1% and 2% immediately. He said this would save the country massive amounts in interest payments. “That ‘numbskull’ would be saving the United States of America up to $1 Trillion Dollars per year,” Trump posted. Trump says he regrets taking advice to hire Powell The president claimed he tried “nice, neutral, and nasty” approaches to pressure Powell but said only being nasty got attention. He wrote, “He’s a dumb guy, and an obvious Trump Hater, who should have never been there.” Trump said he took bad advice when he picked Powell and said Biden made a mistake by keeping him. Trump also said inflation is no longer a concern and the economy is growing fast with factories opening and new tariffs bringing in strong revenue. He said the Fed should take advantage of this moment and drop rates. “If he was concerned about inflation or anything else, then all he has to do is bring the rate down, so we can benefit on interest costs, and raise it in the future when and if these ‘other elements’ happen (which I doubt they will!),” Trump said. The rant ended with Trump calling Powell a “total and complete moron” and saying the Federal Reserve Board should override him. He also hinted, again, that he might…

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Filed under: News - @ June 21, 2025 12:26 am