Trump floats firing ‘numbskull' Fed chair Powell
US President Donald Trump escalated his criticism of Federal Reserve Chair Jerome Powell on Friday -- publicly mulling whether to fire the official and appoint himself to the central bank.
The Republican leader, who regularly berates Powell over the bank's decisions not to lower interest rates, took to Truth Social to smear the banker as a 'numbskull,' 'moron' and 'obvious Trump Hater.'
'I fully understand that my strong criticism of him makes it more difficult for him to do what he should be doing, lowering Rates, but I've tried it all different ways,' said Trump, who appointed Powell during his first term.
'I've been nice, I've been neutral, and I've been nasty, and nice and neutral didn't work!'
Powell's term does not conclude until next year. He has said his dismissal would be unlawful, and that he has no intention of stepping down voluntary if Trump asks.
'I don't know why the Board doesn't override this Total and Complete Moron!' Trump posted. 'Maybe, just maybe, I'll have to change my mind about firing him? But regardless, his Term ends shortly!'
Trump lashed out after the Fed held interest rates steady for a fourth consecutive meeting on Wednesday, forecasting higher inflation and cooler growth as Trump's tariffs take hold.
The projections were its first since Trump unleashed sweeping 10 percent tariffs on almost all trading partners in April.
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