Trump Lays Into Jerome Powell: 'Too Stupid' to Chair Fed

President Donald Trump on Thursday once again slammed Federal Reserve Chair Jerome Powell, accusing him of costing the United States "trillions of dollars" and calling him "too stupid" to hold his job after the Fed voted to keep interest rates steady.

"Jerome “Too Late” Powell has done it again!!!" the president posted on Truth Social. "He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair. 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!"

Trump's comments come one day after the Fed, despite ever-growing pressure from the president, voted to hold the key interest rate steady. 

Two Trump appointees, Michelle Bowman, vice chair for supervision, and board member Christopher Waller, voted against holding the interest rate as is, saying they "preferred to lower the target range for the federal funds rate by one quarter of a percentage point at this meeting," according to a policy statement from the central bank. 

The meeting marked the first time in more than three decades that two members of the Fed's board of governors voted against a rate decision.

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Powell voted to keep rates unchanged, along with three other board members and five Fed regional bank presidents sitting on the rate-setting Federal Open Market Committee.

Trump has frequently spoken out against Powell, including threatening to fire him before his term expires.

However, he has also appeared resigned to waiting until next May to appoint a new chair, after Powell's four-year term ends. 

Trump appointed Powell as chair of the Fed in November 2017, during his first term as president. He was later nominated to a second term by then-President Joe Biden. 

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