Trump: ‘Too Late Powell’ Is Failing the Economy

Donald Trump has reignited his feud with Federal Reserve Chair Jerome Powell, slamming the central bank’s decision to keep interest rates unchanged and mocking Powell’s leadership.

Good to know

• The Fed held rates steady at 4.25–4.5%, citing inflation and job market concerns.
• Trump called Powell “a fool” and said talking to him is “like talking to a wall.”
• Trump argues other countries are cutting rates while the Fed delays action.

Trump did not hold back in his latest criticism of Jerome Powell, turning to Truth Social to call the Fed chair “a fool” who “doesn’t have a clue.” The comment came just one day after the Federal Open Market Committee (FOMC) announced its decision to keep the federal funds rate steady at 4.25–4.5%.

The Fed explained that it was trying to balance inflation control with job market strength. In a statement, the FOMC said, “Uncertainty about the economic outlook has increased further. The Committee is attentive to the risks to both sides of its dual mandate and judges that the risks of higher unemployment and higher inflation have risen.”

The Federal Reserve has not raised interest rates since late 2023 and last made a cut of 0.25% in December.

Speaking to reporters on Thursday, Trump continued his criticism, saying, “The Bank of England cut. China cut. Everybody’s cutting but him. I don’t know, we’ll see what happens. It’s a shame.”

Trump also gave Powell a new nickname: “Too Late Powell.” He added, “He’s always too late. But in this case, it’s not going to matter that much because our country is so strong, we’re so powerful in terms of economic strength and what we’ve done.”

Trump’s comments reflect a broader frustration among some in the business and political world who believe that the Fed’s current approach is too cautious in the face of global rate-cutting trends.