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President Donald Trump blasted Federal Reserve Chair Jerome Powell in a scathing post on Truth Social Friday afternoon.
Trump has previously said he will not fire Powell, although he has slammed him for not lowering the interest rates.
However, on Friday, Trump threatened to fire Powell after all.
Powell, 72, was first appointed to the Federal Reserve board by Barack Obama in May 2012, and then promoted as the chair of the board for a four-year term by President Trump in February 2018. Joe Biden then re-appointed him for another four-year term in 2022. His current term will expire in May 2026, but he will remain on the board of the Federal Reserve until January 31, 2028.
Trump wrote on Friday:
“Too Late” Powell complains about costs, much of which were produced by the Biden Fake “Government,” but he could do the biggest and best job for our Country by helping to lower Interest Rates and, if he reduced them to the number they should be, 1% to 2%, that “numbskull” would be saving the United States of America up to $1 Trillion Dollars per year.
I fully understand that my strong criticism of him makes it more difficult for him to do what he should be doing, lowering Rates, but I’ve tried it all different ways. I’ve been nice, I’ve been neutral, and I’ve been nasty, and nice and neutral didn’t work!
He’s a dumb guy, and an obvious Trump Hater, who should have never been there, I listened to someone that I shouldn’t have listened to, and Biden shouldn’t have reappointed him.
We have virtually No Inflation, our Economy is doing really well, and will soon be doing, with the tremendous Tariff Income coming in, and Factories being built all over the Country, better than it has ever done before. If he was concerned about Inflation or anything else, then all he has to do is bring the Rate down, so we can benefit on Interest Costs, and raise it in the future when and if these “other elements” happen (which I doubt they will!).
Don’t say that you think there will be Inflation sometime in the future, because there isn’t now but, if there is, raise the Rates! We should be at the TOP of the attached List, not the bottom. I don’t know why the Board doesn’t override this Total and Complete Moron!
Maybe, just maybe, I’ll have to change my mind about firing him? But regardless, his Term ends shortly!
In his post, Trump included a list of World Central Bank rates, which shows the United States way down on the list at #35.
( @realDonaldTrump – Truth Social Post )
( Donald J. Trump – Jun 20, 2025, 5:58 PM ET )“Too Late” Powell complains about costs, much of which were produced by the Biden Fake “Government,” but he could do the biggest and best job for our Country by helping to lower Interest… pic.twitter.com/Zo0gNg3ZTS
— Donald J. Trump 🇺🇸 TRUTH POSTS (@TruthTrumpPosts) June 20, 2025
