After the Federal Reserve announced it would continue to maintain interest rates, US President Trump once again criticized Federal Reserve Chairman Powell.
However, this time he did not call for Powell to step down again.
He posted on the social media platform 'Truth Social', saying: 'Mr. Too Late, Powell, is a fool who knows nothing. Other than that, I quite like him! Oil and energy prices are falling, almost all costs (including food and eggs) are dropping, there is basically no inflation, and tariff revenues are pouring into the US—this is exactly the opposite of what 'Mr. Too Late' says!'
Trump's remarks once again challenge the independence of the Federal Reserve, an action that might cause further unrest in markets already shaken by Trump's ever-changing tariff plans.
On last Sunday's NBC program Meet the Press, when asked by the host whether he would try to remove Powell before his term ends in 2026, Trump replied: 'Why should I do that? Anyway, it won't be long before I can replace him.'