Tensions have continued to rise between President Trump and Chairman of the Federal Reserve Jerome Powell since Trump’s visit to the bloated construction project at the Fed’s headquarters last week. Trump’s criticism of Powell’s leadership and refusal to lower interest rates has led to some heated exchanges between the two leaders.
On Friday morning, Trump posted two messages directly calling out the chairman of the Federal Reserve: “Jerome ‘Too Late’ Powell, a stubborn MORON, must substantially lower interest rates, NOW. IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!”
‘I believe that the wait and see approach is overly cautious, and, in my opinion, does not properly balance the risks to the outlook and could lead to policy falling behind the curve.’
In another Truth Social post, Trump lashed out again: “Too Little, Too Late. Jerome ‘Too Late’ Powell is a disaster. DROP THE RATE! The good news is that Tariffs are bringing Billions of Dollars into the USA!”
A Wednesday press release recounted a vote on monetary policy. While nine members of the committee voted to “maintain the target range for the federal funds rate at 4-1/4 to 4-1/2 percent,” this decision was not unanimous. Michelle Bowman and Christopher Waller dissented from this action, preferring to lower the federal funds rate by 1/4 percentage point. This, however, is still far below the rate cuts that Trump is aiming for.
RELATED: Jerome Powell’s luxury Fed is failing the American people
Photographer: Al Drago/Bloomberg via Getty Images
On Friday, Board member Waller explained his dissent from the majority “wait and see” approach, calling it “overly cautious” and claiming it “does not properly balance the risks to the outlook and could lead to policy falling behind the curve.”
Bowman, likewise, gave a statement on Friday explaining her dissent: “I see the risk that a delay in taking action could result in a deterioration in the labor market and a further slowing in economic growth.”
Trump’s aggressive tariffs have stimulated the economy and have secured many trade deals. However, Powell has reportedly said that this short-term success is not indicative of long-term stability. “We’ve learned that the process will probably be slower than expected,” Powell said. “We think we have a long way to go to really understand exactly how” the tariffs will affect inflation and the economy.
The Federal Reserve Board declined Blaze News’ request for comment.
Like Blaze News? Bypass the censors, sign up for our newsletters, and get stories like this direct to your inbox. Sign up here!
Politics, Trump, Jerome powell, Jerome powell vs trump, Federal reserve, Christopher waller, Michelle bowman, Tariffs, Interest rates
