President Trump criticized Federal Reserve Chairman Powell for not lowering interest rates, expressing his desire for Powell’s tenure to end.

President Trump took to the social media platform Truth Social to comment on the Federal Reserve’s interest rate policy following Powell’s statement yesterday. Trump, who had previously stated several times that the Fed should lower the policy rate, argued that Powell should have done it long before and expressed his eagerness for Powell’s term to end. “EVEN THE PRICE OF EGGS HAS FALLEN,” Powell warned that the bank could find itself in a difficult scenario where inflation and employment targets are in tension during an event he attended on Wednesday at the Chicago Economics Club. Powell also addressed the impact of Trump’s tariff increases, stating that “the level of tariff increases announced so far is much higher than expected. The economic effects are likely to be the same, including higher inflation and slower growth.”

In his social media post about the Fed, President Trump stated, “The European Central Bank (ECB) is expected to lower interest rates for the 7th time, but the Fed, always late and wrong, released yet another typical, utterly terrible report yesterday with ‘Too Late’ Jerome Powell. Oil prices have dropped, food and beverage prices (even eggs!) have dropped, and the US is getting rich from tariffs. ‘Too Late’ (Powell) should have lowered rates well before, like the ECB; now they definitely need to cut them. I look forward to the end of Powell’s term.”