Olusegun Ariyo
US President Donald Trump has criticised the Chair of the Federal Reserve, Jerome Powell, labelling him a “major loser”.
Trump also branded Powell as “Mr. too late”, adding that the central bank should make preemptive cuts to interest rates.
The Republican, in a post on Truth Social on Monday, said: “Preemptive Cuts” in Interest Rates are being called for by many. With Energy Costs way down, food prices (including Biden’s egg disaster!) substantially lower, and most other things trending down, there is virtually No Inflation.
“With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr Too Late, a major loser, lowers interest rates, NOW.
“Europe has already “lowered” seven times. Powell has always been “Too Late,” except when it came to the Election period when he lowered to help Sleepy Joe Biden, later Kamala, get elected. How did that work out?”
Trump had last week lashed out at Powell, insisting that he is “always too late and wrong”.
He also said that Powell’s termination cannot come fast enough. Last Thursday, Trump said at a press conference that Powell “should do the rate cuts” because the European Central Bank has cut interest rates, adding that he was not happy with him.
Meanwhile, Powell has said that he intends to serve out the remainder of his term as Chair of the Federal Reserve, which ends on May 15, 2026.
