President Donald Trump delivered a blistering critique of Federal Reserve Chairman Jerome Powell on Wednesday, slamming his refusal to lower interest rates as politically motivated and economically disastrous. In a fiery exchange with reporters, Trump didn’t hold back, calling Powell “a stupid person” whose misguided policies are costing the United States hundreds of billions—if not trillions—of dollars.
“We have a stupid person, frankly, at the Fed. He probably won’t cut today,” Trump said. “Europe had 10 cuts, and we had none. And I guess he’s a political guy. I don’t know, he’s a political guy who’s not a smart person, but he’s costing the country a fortune.”
The President’s frustration is justified. While Powell dithers, claiming he needs “further clarity” before acting, America’s economy is being strangled by artificially high interest rates. Trump highlighted how the U.S. is now the “38th in interest rates” when it should be leading the world with the lowest rates. “We’re paying more interest than a lot of European nations that can’t carry our suitcase,” he quipped.
Unlike the liberal media, which parrots Powell’s excuses, Trump sees the truth—there is no inflation crisis, only economic success thanks to his policies. “I got a call from Congress last night: ‘Sir, there’s a problem.’ I said, ‘What is it?’ ‘Money is pouring in. We don’t know how to account for it.’ I said, ‘Check the tariffs.’ $88 billion came in from tariffs, no inflation, and it’s going to get even more so.”
Yet Powell, whom Trump nicknamed “Too Late Powell” for his chronic sluggishness, continues to sabotage growth. “If he’d lowered a point, I’d pay about a point less, then if he’d lower it two points, I’d pay about two points less. And that’s for 10 years, 12 years, 15 years, five years; It’s hundreds of billions, it’s even trillions of dollars, that we’re going to lose because of this ‘Too Late.’”
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Trump even floated the idea of appointing himself as Fed Chair when Powell’s term expires. “Am I allowed to appoint myself at the Fed? I do a much better job than these people.” Given his track record of economic victories—from record-low unemployment to booming stock markets—it’s hard to argue against him.
The liberal media, of course, will ignore Trump’s laser-focused economic insight. Instead, they’ll paint Powell as some infallible technocrat while dismissing Trump’s warnings. But the numbers don’t lie—America is winning, and it’s despite the Fed, not because of it.
h/t: Steadfast and Loyal
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