#PowellRemarks Donald Trump says end of Jerome Powell's term as Fed chair 'cannot come fast enough'

Donald Trump is awake. And he has strongly criticised monetary policy by the Federal Reserve, saying the end of Jerome Powell’s tenure as chair “cannot come fast enough”.

In a post on Truth Social, the social network he owns, Trump said that Powell had been too slow to cut interest rates – contrasting its hesistance because of perceived inflationary pressures with the European Central Bank (ECB).

The ECB is due to cut interest rates for the seventh time this year in order to prop up economic growth.

Powell enraged Trump last night by warning that the White House’s massive tariffs could raise inflation. That would make the Fed even more hesitant to cut interest rates.

Trump said:

The ECB is expected to cut interest rates for the 7th time, and yet, “Too Late” Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete “mess!” Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!