Trump Calls Fed Chair Powell 'Moron' and 'Jerk,' Demands Interest Rate Cuts

President Trump launched a scathing attack on Federal Reserve Chair Jerome Powell after the Fed held interest rates steady at its February 20-21 FOMC meeting, calling him a "moron" and a "jerk" on Truth Social. Trump demanded Powell slash rates to 1%, arguing that recent inflation data showing a 2.3% annual rate justified immediate cuts and that Powell was costing America "hundreds of billions" in unnecessary interest expense. He stated Powell would be "gone soon" and that his "termination cannot come fast enough." The attack represents an escalation in Trump's campaign to pressure the independent Federal Reserve, undermining the central bank's traditional independence from political interference. Trump has already announced he will not reappoint Powell when his term expires in May 2026 and selected Kevin Warsh as his replacement.

"Powell is a moron... he would be gone soon... his termination cannot come fast enough" — Posted on Truth Social following the Federal Reserve's February 20-21 FOMC meeting decision to hold interest rates steady