President Donald Trump has personally attacked Fed Chair Jerome Powell in a caps-heavy onslaught, ironically labeling him “TOO ANGRY.”
The meltdown came after the Federal Reserve, on Wednesday, defied one of Trump’s long-running demands, once again deciding to hold interest rates steady.
Trump reacted on Truth Social, unleashing a stream of personal and professional attacks on Powell. “Jerome ‘Too Late’ Powell has done it again!!! He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair,” the president wrote Thursday morning.
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He continued: “He is costing our Country TRILLIONS OF DOLLARS, in addition to one of the most incompetent, or corrupt, renovations of a building(s) in the history of construction! Put another way, ‘Too Late’ is a TOTAL LOSER, and our Country is paying the price!”
The renovation the red-faced president referred to is the construction work being carried out on the Federal Reserve’s HQ in Washington D.C. The cost of the project is over budget and become a lightning rod for criticism from Trump. He even suggested last week that Powell might be involved in fraud.
“It’s possible there’s fraud involved with the $2.5-$2.7 billion renovation,” the president said. “It’s a renovation. How do you spend $2.7 billion?”
Powell has previously fact-checked Trump’s claims about the cost of the job to his face, during a bizarre meeting last Thursday, July 24.
Trump’s strongly worded Truth Social missive came as his Treasury Secretary Scott Bessent mused about replacing Powell while on CNBC.
“We are putting together a very good list of candidates. And remember, there are going to be two seats opening up,” he said live on the network Thursday morning. “Governor Kugler will be leaving in January, February, Chair Powell in May.”
Powell’s second four-year term winds down in May 2026. He has proved to be one of the most persistent thorns in Trump’s side since he re-entered the White House in January.
Powell, who was nominated to lead the central bank by Trump in 2017, has continually refused to lower interest rates, despite Trump’s repeated demands.
Despite recently forgetting who gave Powell the job, Trump made a rare admission of failure earlier this month, calling the 72-year-old “truly one of my worst appointments.”
On Wednesday, the Fed held rates between 4.25 percent and 4.5 percent. Meanwhile, Donald Trump continues to pound the table for deep cuts, demanding a plunge to 1 percent or lower.
