Trump Criticizes Powell’s Fed Leadership, Calls for Immediate Rate Cuts

Former President Donald TRUMP has publicly expressed regret over appointing Jerome Powell as Federal Reserve chair, blaming him for costing the U.S. up to $1 trillion annually by maintaining high interest rates. In a series of posts on Truth Social, Trump argued that Powell should immediately reduce rates to 1%-2% to save the country from excessive interest payments. "That 'numbskull' would be saving the United States of America up to $1 Trillion Dollars per year," Trump wrote.

Trump claimed he attempted various approaches—"nice, neutral, and nasty"—to influence Powell, but only aggressive tactics garnered attention. He dismissed Powell as "a dumb guy, and an obvious Trump Hater" who should never have held the position. The former president also asserted that inflation is no longer a concern, citing strong economic growth, factory openings, and revenue from new tariffs.

Trump urged the Fed to capitalize on the current economic momentum by cutting rates, suggesting they could be raised later if necessary. "If he was concerned about inflation or anything else, then all he has to do is bring the rate down," Trump said, framing the MOVE as a temporary measure to reduce borrowing costs.