President Donald Trump on Thursday again slammed Federal Reserve (Fed) Chair Jerome Powell, saying the United States should have the lowest interest rates in the world.
Trump's remarks came a day after the Fed paused its series of cuts and voted 10-2 to keep the benchmark lending rate unchanged at a target range of 3.5% to 3.75%.
That prompted the U.S. leader to renew his criticism of Powell, who he said is "hurting our Country, and its National Security."
"Jerome 'Too Late' Powell again refused to cut interest rates, even though he has absolutely no reason to keep them so high," Trump wrote on his Truth Social platform.
He called Powell a "moron," adding: "The Fed should substantially lower interest rates, NOW!"
While Trump said that Powell "admits inflation is no longer a problem or threat," the central bank, in a statement Wednesday, noted that "inflation remains somewhat elevated."
Powell is "costing America Hundreds of Billions of Dollar a year in totally unnecessary and uncalled for INTEREST EXPENSE," Trump said, adding that U.S. should be paying lower interest rates than "ANY OTHER COUNTRY IN THE WORLD."
Trump's lengthy social media post also comes as his administration has escalated attacks on the central bank.
The president has been seeking to oust Fed Governor Lisa Cook over allegations of mortgage fraud, while the Department of Justice has launched a probe into Powell over renovations at the bank's headquarters – prompting a rare rebuke from the Fed chief.
On Thursday, Trump claimed tariffs have made the U.S. "far stronger and more powerful than any other Nation."
He said many countries are "low interest rate paying cash machines," adding that despite tariffs generating billions of dollars, most continue to maintain – albeit significantly reduced – trade surpluses with the US.
"I have been very nice, kind, and gentle to countries all over the World. With a mere flip of the pen, $BILLIONS more would come into the U.S.A., and these countries would have to go back to making money the old fashioned way, not on the back of America," he wrote.
"I hope they all appreciate, although many don't, what our great Country has done for them."
