31.07.2025 23:55
U.S. President Donald Trump used harsh words against Federal Reserve Chairman Jerome Powell following the decision to keep the central bank's policy interest rate unchanged. Trump described Powell as "late to the game" and "incompetent," stating that Powell is "too late, too angry, too stupid, and too political" to be Fed Chairman.
U.S. President Donald Trump claimed that Federal Reserve Chairman Jerome Powell is costing the country trillions of dollars following the Federal Reserve's decision to keep the policy interest rate unchanged.
In a post on his Truth Social account, U.S. President Donald Trump used harsh words against Fed Chairman Powell after the decision to keep the policy interest rate unchanged.
"TOO STUPID TO BE FED CHAIRMAN"
Trump stated that Powell is "too late, too angry, too stupid, and too political" to be Fed chairman, adding, "He is costing our country trillions of dollars, and moreover, he is signing off on one of the most incompetent or improper building renovations in construction history. In other words, 'too late' is literally a loser, and our country is paying the price for it."
WHAT HAPPENED?
The Fed kept the policy interest rate unchanged in the range of 4.25-4.50 percent as expected, noting that inflation continues to remain somewhat high.
In a statement from the Fed, it was mentioned that FOMC members Michelle Bowman and Christopher Waller opposed the decision to keep the interest rate unchanged and favored a 25 basis point reduction in the policy interest rate.
Fed Chairman Jerome Powell also stated in his remarks following the decision to keep the policy interest rate unchanged that it is too early to say whether there will be a rate cut in September.