After the Fed refused to cut interest rates despite positive economic signs, President Donald Trump blasted Federal Reserve Chairman Jerome Powell as “a FOOL.”
Specifically, Powell’s decision to keep rates between 4.25% and 4.5% directly contradicts the president’s economic vision for America.
It also continues the Federal Reserve’s pattern of working against American prosperity.
President Trump took to Truth Social to express his frustration with Powell following the central bank’s decision to maintain current interest rate levels.
The Fed’s refusal to lower rates comes at a time when everyday Americans continue to struggle with the lingering effects of Bidenomics.
“‘Too Late’ Jerome Powell is a FOOL, who doesn’t have a clue. Other than that, I like him very much!” President Trump wrote, making his position crystal clear on Powell’s leadership at the Federal Reserve.
“Oil and Energy way down, almost all costs (groceries and “eggs”) down, virtually NO INFLATION, Tariff Money Pouring Into the U.S. — THE EXACT OPPOSITE OF ‘TOO LATE!’ ENJOY! The president added.
The Federal Reserve’s decision to hold its benchmark interest rate marks a continuation of the same monetary policy since December.
Powell cited concerns about inflation and unemployment as justification for maintaining the current rates.
"Too Late" Jerome Powell is a FOOL, who doesn't have a clue. Other than that, I like him very much! Oil and Energy way down, almost all costs (groceries and "eggs") down, virtually NO INFLATION, Tariff Money Pouring Into the U.S. — THE EXACT OPPOSITE OF "TOO LATE!" ENJOY!
— Trump Posts on 𝕏 (@trump_repost) May 8, 2025
However, President Trump directly challenged these claims, pointing to falling energy costs and his strategic tariff policies as reasons why the Fed’s inflation concerns are unfounded.
The president disputed the notion of rising inflation, stating the situation is the “exact opposite” of what Powell described.
President Trump’s criticism highlights the ongoing tension between his administration’s economic vision and the Federal Reserve’s approach to monetary policy.
Despite his strong criticism, President Trump later assured investors he had no intention of firing Powell, even while describing him as a “total stiff” in an interview.
Powell was initially appointed by President Trump and later reappointed by Joe Biden in 2022.
He has claimed the Fed’s decisions are based solely on economic data and not influenced by political pressure.
The Federal Reserve’s independence has become controversial as Powell continues to push monetary policies that undermine the president’s efforts to boost American economic power through strategic tariffs and energy independence.
For hardworking Americans hoping for relief from high interest rates that have made mortgages and other loans increasingly unaffordable, Powell’s decision represents yet another obstacle.
As the administration continues implementing its America First economic policies, the Fed’s resistance highlights the deep-seated opposition President Trump faces from entrenched Washington institutions.
