Donald Trump fired back at Jerome Powell, calling the Fed chair a latecomer for delaying interest rate cuts.

US President Donald $TRUMP has criticized Fed Chair Jerome Powell for his slowness in cutting interest rates. In his latest slur, Trump called the Fed Chair “Powell too late” amid calls for the Fed to cut interest rates.

Donald Trump slams Jerome Powell for not cutting interest rates

Amid calls for interest rate cuts from the US Federal Reserve, US President Donald Trump has criticized Fed Chair Jerome Powell. In a post shared on X, Trump criticized Powell for dragging his feet on the rate cut.

According to Trump, calls for rate cuts have reached a deafening level in the US, with a consensus on the matter.

However, Donald $TRUMP noted that Powell and the Fed appeared ready to delay rate cuts, potentially hurting economic growth.

“Almost everyone agrees that the Fed should be cutting rates sooner, not later,” Trump said. "Too late Powell, a legendary man for being too late, will probably blow it again - but who knows?"

Powell left interest rates unchanged at the last FOMC meeting in early May, to the dismay of a broad spectrum of investors. This is the Fed’s third decision to leave rates unchanged, with Powell benchmarking interest rates at 4.25%-4%.

Earlier, Donald Trump's failure to cut rates fueled speculation that Powell would be removed as Fed chair.

However, $TRUMP called Powell a fool for not keeping interest rates unchanged despite improving economic metrics.

Why is Powell leaving interest rates unchanged?

As markets anticipate the Fed's decision to leave interest rates unchanged, several theories have gathered steam.

In his FOMC speech, Powell blamed tariffs for the unchanged rate cut, noting that inflationary forces are still gaining ground.

The Fed chair noted that inflation is not easing as expected and trade tensions from Donald Trump are adding to the uncertainty.

However, soft PPI inflation data released in mid-May are painting a different economic picture.

According to data released by the US Bureau of Labor Statistics (BLS), the PPI data fell to 2.4 percent below expectations, indicating a cooling measure of inflation.

Investors are eyeing the Fed’s interest rate announcements given the seismic impact on cryptocurrency prices.

Low inflation rates typically positively affect crypto prices as investors increase allocations to digital assets, increasing liquidity levels.

As Donald Trump steps up criticism of Powell, a shift in stance on interest rate cuts is poised to send prices into a rally.

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