Trump called the Fed chairman a loser and demanded an immediate rate cut.

US President Donald Trump named the head of the Federal Reserve System (FRS, Central Bank of the USA) Jerome Powell was a "loser" and "Mr. Too Late" and declared a powerful slowdown in the American economy if he did not lower interest rates. The head of state made a corresponding publication on the Truth Social network on April 21.

"With such good downward trends, as I predicted, there will be almost no inflation, but there may be a slowdown in the economy if Mr. Too Late, the main loser, does not lower interest rates now," he wrote.

In his opinion, Powell also deliberately lowered the rate during the election period in order to help former US president "sleepy Joe Biden" and later former Vice President Kamala Harris to be elected head of state.

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This is not the first "clash" between Trump and Powell. The US presidential administration is looking for a legal way to dismiss the head of the Federal Reserve before his term expires in May 2026. As Powell himself stated, it is impossible to remove him from office by law.

On April 17, Trump criticized Powell for conducting insufficiently soft monetary policy. He said that the head of the Fed should have lowered the key rate a long time ago, but now he just has to leave his post.

Powell himself said on April 16 that Trump's policy of tightening duties could lead to an acceleration in the rate of inflation in the United States and negatively affect economic growth. Powell stressed that the Fed has not faced a similar situation for about half a century. According to him, Trump's tariffs are pushing the US economy towards weaker growth, higher unemployment and faster inflation.