Trump fumes at Powell, urging Federal Reserve board takeover
Share this @internewscast.com


President Trump on Friday morning fumed at Federal Reserve Chair Jerome Powell, urging the central bank board to wrest control from him after opting again to not lower interest rates this week.

“Jerome ‘Too Late’ Powell, a stubborn MORON, must substantially lower interest rates, NOW. IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!” the president said on Truth Social.

He later added, “STRONG DISSENTS ON FED BOARD. IT WILL ONLY GET STRONGER! ‘TOO LATE!’”

The president was referring to a vote by the Fed on Wednesday that kept short-term interest rates at a level of 4.25 percent to 4.5 percent but it included the first double dissent from Fed board officials in more than 30 years.

Vice Chair of Supervision Michelle Bowman and board Gov. Christopher Waller who are both in the running for Trump’s nomination to replace Powell when his term is up in May voted against keeping interest rates as is.

The president later on Friday morning continued to rage about the central bank’s decision as he has done in the past few months.

“Too Little, Too Late. Jerome ‘Too Late’ Powell is a disaster. DROP THE RATE! The good news is that Tariffs are bringing Billions of Dollars into the USA!” Trump said on Truth Social.

Some bad news on the economy for Trump also dropped Friday morning with the July jobs report  showing the labor market stalling. The U.S. added only 73,000 jobs in July and the unemployment rate stayed flat at 4.2 percent, according to data released Friday by the Labor Department.

The data also included staggering revisions for the months of May and June that showed about 250,000 fewer jobs were added to the non-farm sectors during those two months.

Trump has been lobbing criticisms at Powell for months over the Fed decision to keep interest rates as is, which Powell largely attributes to economic uncertainty in part due to Trump’s tariffs policy.

Trump last week had a fairly cordial meeting with Powell at the Federal Reserve headquarters to review the building’s ongoing renovation. He appeared to pressure off the idea of firing Powell but those tensions have since renewed after this week’s economic news. 

Share this @internewscast.com
You May Also Like

San Francisco Official Assures Public Safety After Plutonium Discovery

San Francisco public health authorities have assured the community that no immediate…

Minibike Crash Highlights Persistent Safety Issues Amid St. Pete Traffic Enforcement Efforts

In St. Petersburg, Florida, the city has been grappling with a troubling…

City Delays Decision on Nuclear Fuel Rezoning as Residents Express Concerns at Packed Meeting

In Jonesborough, Tennessee, the Washington County Regional Planning Commission has postponed a…

Heartbreaking Discovery: Remains of Missing Indigenous Woman Found in Washington After Three Years

The tragic discovery of an Indigenous woman’s remains has brought some closure…

Shocking Incident in Arcola: Local Man Faces Charges for Stabbing Four in Attempted Murder Case

An 18-year-old from Arcola, Samuel Garcia, is facing serious legal charges after…

Results Announced for Albuquerque’s 2025 Mayoral Election

Albuquerque’s upcoming mayoral election on Tuesday will determine whether incumbent Mayor Tim…

Drone Intercepted Attempting to Smuggle Contraband into Washington State Prison

WASHINGTON COUNTY, Ga. – In the early hours of Saturday morning, a…

Ohio State Leads the Pack in First College Football Playoff Rankings; Indiana and Texas A&M Follow

The anticipation surrounding the initial unveiling of this season’s College Football Playoff…

U of I Graduates Dominate Women’s Wheelchair Division at New York Marathon

NEW YORK CITY (WCIA) — The University of Illinois has more reasons…

Del. Will Morefield Secures Re-Election Victory in Virginia’s District 43: What It Means for the Future

RICHMOND, Va. (WJHL) — Republican Will Morefield has once again clinched victory,…

Teen Parents Detained Following Discovery of Buried Newborn in Ohio

In Columbus, Ohio, a tragic discovery has prompted a police investigation into…

Zohran Mamdani Makes History as New York City’s Newly Elected Mayor

NEW YORK CITY (WPIX) – In a historic turn of events, Zohran…