President Donald Trump lashed out at Federal Reserve Chair Jerome Powell early Thursday, labeling him a “fool” for holding interest rates steady, and blaming the decision on Powell’s failure to recognize the benefits of Trump’s tariff policies.
“‘Too Late’ Jerome Powell is a FOOL, who doesn’t have a clue,” Trump wrote on Truth Social. “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!”
The Federal Reserve on Wednesday opted to keep its primary interest rate unchanged, maintaining the current range of 4.25% to 4.5%, a level it has held since December.
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