Former U.S. President Donald Trump has once again launched a sharp and highly publicized attack on Jerome Powell, the current Chairman of the Federal Reserve.
Through a recent post on his platform Truth Social, Trump criticized Powell for maintaining high interest rates that, according to him, are damaging the American economy. In the post, Trump didn’t hold backbcalling Powell a “numbskull” and blaming him for failing to reduce interest rates to a more favorable 1–2%.
> “If he reduced them to the number they should be, 1% to 2%, that ‘numbskull’ would be saving the United States of America up to $1 Trillion Dollars per year,” Trump wrote.
He further alleged that Powell’s inaction has resulted in massive unnecessary costs for the American public. Trump emphasized that the current economic strain rising loan rates, reduced corporate investments, and increasing consumer debt is directly linked to Powell’s failure to adjust monetary policy appropriately.
Trump also expressed frustration over Powell's resistance to influence, stating that no matter the tone be it kind, neutral, or harsh Powell consistently refused to cut rates.
> “I’ve been nice, I’ve been neutral, and I’ve been nasty… and still no results,” Trump added.
Trump didn’t stop at monetary policy. He accused Powell of being a “Trump Hater,” asserting that President Joe Biden should not have reappointed him as Fed Chair. According to Trump, Powell’s political bias has tainted his decision-making, putting personal prejudice above national interest.
🔍 Key Claims from Trump:
Powell's high interest rates cost the U.S. economy up to $1 trillion annually.
Efforts to persuade Powell through various approaches have all failed.
Powell is politically biased and unfit to continue as Fed Chair.
🏛 Source:
Truth Social – @realDonaldTrump