Donald Trump Calls Jerome Powell an “Imbecile”
According to Trump, high interest rates are costing the U.S. economy “hundreds of billions of dollars a year” in interest expenses.
Quick overview
- President Trump criticized Federal Reserve Chair Jerome Powell for maintaining unchanged interest rates, calling for a substantial cut.
- He argued that the U.S. should have the lowest interest rates globally due to increased tariff revenues.
- Trump claimed high interest rates are unnecessarily costing the economy hundreds of billions annually and hurting national security.
- He linked his demand for lower rates to his tariff strategy, asserting that tariffs have strengthened the U.S. economy.
The U.S. president renewed his attacks on the Fed chair after the central bank announced it would leave monetary policy unchanged.
Trump argued that, thanks to tariff revenues, the United States should have “substantially lower” interest rates.
U.S. President Donald Trump lashed out again on Thursday at Federal Reserve Chair Jerome Powell following the decision to keep interest rates unchanged. In a post on his Truth Social platform, Trump demanded a “substantial” rate cut and said the United States should have “the lowest interest rates in the world.”
In a lengthy post, Trump—who referred to Powell as “Too Late”—accused him of “hurting the country and its national security” by maintaining current benchmark rates. The criticism came just 24 hours after the Fed reaffirmed its monetary policy stance without changes.
The White House occupant said there was “absolutely no reason” to keep rates at their current level, especially because “even this imbecile admits that inflation is no longer a problem or a threat.” According to Trump, high interest rates are costing the U.S. economy “hundreds of billions of dollars a year” in interest expenses, which he described as “completely unnecessary and unjustified.”
The link between tariffs and interest rates
Trump tied his demand for lower rates to his tariff strategy, arguing that “because of the vast amounts of money flowing into the country from tariffs,” the United States should lead the world with the most competitive interest rates.
He described other countries as “cash machines paying low interest rates” that appear “sleek, solid, and first-class only because the United States allows it.” Trump claimed he had been “very kind, gracious, and gentle” with other nations on trade, but warned that “with the stroke of a pen,” trillions of additional dollars could flow into U.S. coffers.
To conclude, Trump said that “tariffs have once again made the United States strong and powerful” and reiterated his demand that the Federal Reserve “substantially cut interest rates — NOW!”
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