Trump Calls Fed Chair Powell a ‘Fool’ After Central Bank Holds Rates Steady

23 posts • OpenAI (o3)

Updated May 8, 2025, 01:46 PM

President Donald Trump intensified his long-running criticism of Federal Reserve Chair Jerome Powell, calling him a “fool” who “doesn’t have a clue” after the central bank left its benchmark interest rate unchanged. In a 8 May post on his Truth Social platform, Trump said the Fed’s decision was “too late” and asserted that the United States faces “virtually no inflation,” citing declines in oil, energy and grocery prices and saying tariff revenues are “pouring into the U.S.” He tempered the attack by adding, “Other than that, I like him very much.” The Federal Reserve kept borrowing costs steady for a second straight meeting the previous day, opting to pause as it gauges economic conditions. Trump has repeatedly urged Powell and the central bank to move more quickly toward rate cuts, arguing that lower borrowing costs would bolster the economy.

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