Trump says Fed chairman ‘too slow’ to cut rates

U.S. President Donald Trump once again targeted Federal Reserve Chairman Jerome Powell on Thursday, deeming him "too slow" to cut the institution’s interest rates.

"It’s more than time for Powell’s term (at the head of the Fed, Ed.) to end," Trump wrote on his Truth Social platform, as Powell’s second term is set to expire in May 2026.

Powell "should have cut interest rates a long time ago, like the ECB," the European Central Bank, added the U.S. president, encouraging Powell to ‘do it now.’

The tariffs desired by Trump place the Federal Reserve (Fed) in a "complicated" situation, Powell declared on Wednesday, estimating that these surcharges were "certainly going to at least temporarily raise inflation."

"Oil prices are down, grocery costs (even eggs!) too, and the U.S. is getting richer thanks to the tariffs," Trump responded early Thursday, asserting that the Fed’s chief "is always too slow and always wrong."

The Republican leader had already urged Powell on April 4 to cut interest rates, suggesting at the time that it would be "the perfect moment."

The Fed has kept its main rates stable, between 4.25% and 4.50%, since the start of the year.