Trump Unloads on Powell After New Fed Move

Maybe President Trump is hoping Jerome Powell will resign in the face of mounting insults, because that's what he keeps throwing at the Federal Reserve chair he badly wants out, even more so after the Fed chose to hold interest rates steady on Wednesday. "Jerome 'Too Late' Powell has done it again!!!" Trump wrote Thursday on Truth Social, per the Hill. "He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair."

Trump went on to claim Powell was costing the country "trillions of dollars," then highlighted, again, the $2.5 billion renovation of the Fed's headquarters in DC. While touring the site last week, Trump suggested Powell could be kicked out "for fraud." On Thursday, Trump said it was "one of the most incompetent, or corrupt, renovations of a building(s) in the history of construction!"

Powell "has taken little public notice" of Trump's repeated attacks, per Axios. But he also faces pushback from the Fed board. Gov. Christopher Waller and Vice Chair of Supervision Michelle Bowman voted to cut the key interest rate, marking the first multi-member dissent in 30 years. As the Hill reports, both Waller and Bowman are "in the running for Trump's nomination to replace Powell when his term is up in May."