Trump demands 1% interest rates, blasts Fed chair Jerome 'Too Late' Powell for ‘costing trillions’

U.S. President Donald Trump launched a sharp attack on Federal Reserve Chairman Jerome Powell and the Fed Board in a Truth Social post on Monday, accusing them of failing in their duties and causing the country to lose "trillions of dollars in interest cost."

Trump claimed that if the Fed were “doing their job properly,” the country would be saving trillions in interest costs, suggesting that interest rates should be as low as 1% or better.

“The Board just sits there and watches, so they are equally to blame,” Trump added, in a post that underscores his long-standing frustration with Powell, whom he appointed in 2018.


Trump referred to Powell as “Jerome ‘Too Late’ Powell”, criticizing the central bank for what he called inaction and mismanagement of interest rates.

“Jerome ‘Too Late’ Powell, and his entire Board, should be ashamed of themselves for allowing this to happen to the United States,” Trump wrote. “They have one of the easiest, yet most prestigious, jobs in America, and they have FAILED — And continue to do so.”

Trump’s comments come amid ongoing discussions within the Federal Reserve about when and how quickly to cut interest rates amid signs of cooling inflation and global economic uncertainty.