President Donald Trump on Thursday lashed out at Federal Reserve Chairman Jerome Powell after he suggested the economy could face a difficult period due to tariffs and did not announce the central bank would 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 on TRUTH Social.
During a speech Wednesday, Powell said the Federal Reserve, the United States’ central banking system, had to ensure that any increase in prices from tariffs didn’t result in inflation.
Trump has argued the Fed should cut rates to ease the economy’s transition to his tariffs.
On Thursday, he insisted that oil and grocery prices ar down and that Powell’s dismissal couldn’t come soon enough.
“Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS,” Trump’s post reads. “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!”
