Trump called the head of the US Federal Reserve Powell a stubborn ass

On June 27, US President Donald Trump told reporters at the White House that he would be glad to see the resignation of Federal Reserve Chairman Jerome Powell, and called him a stubborn ass.

"But we have a man at the head of [the Fed] who, like a stubborn ass — and a stupid man at that — is making a huge mistake," Trump said, quoted by the White House's Rapid Response 47 operational channel.

The American leader added that he would be glad to see Powell step down from the post of Fed chairman. According to him, the base interest rate in the United States should be 1%, while American citizens pay more. In addition, Trump stressed that in the near future he will present a candidate for the post of head of the Federal Reserve.

Federal Reserve personnel: conflict between Trump and the head of the Fed may undermine the role of the dollar

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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.