US President Donald Trump has renewed calls for the Federal Reserve to lower interest rates, attacking Chair Jerome Powell in a series of social media posts. The central bank chief had announced that interest rates would remain steady at 4.25-4.5 percent, but Trump disagrees, saying Powell is “Too Late” and should cut rates substantially.
Trump’s comments come after the Fed board saw rare dissent from two members who publicly argued for more rate cuts. Powell cited a risk of inflation linked to Trump’s trade policies as the reason behind his decision not to drop interest rates.
The central bank operates independently, but Trump is pushing for the board to take control and make decisions on interest rates. He even suggested that Powell should be “put out to pasture.” Earlier this week, the Fed had slashed interest rates by about 1 percent, but Trump wants more aggressive cuts.
In response to the latest inflation data, Powell warned that prices may become persistent if not addressed. The Fed’s policy stance is seen as appropriate to guard against inflation risks, with two dissenting votes from Trump appointees who argued for more rate cuts.
Trump also made light of a news item about a Federal Reserve board member stepping down, saying it was “Too Little, Too Late.” He praised the news that Tariffs are bringing Billions of Dollars into the USA, taking aim at his trade policies.
Source: https://www.aljazeera.com/news/2025/8/1/trump-calls-for-fed-board-to-take-control-chair-powell-over-interest-rates