In a fresh intensification of the ongoing clash between former President Donald Trump and Federal Reserve Chair Jerome Powell, Trump appeared to urge Powell to step down after the head of the Federal Housing Finance Agency (FHFA) accused him of delivering “misleading” testimony to Congress.
Trump has been voicing his dissatisfaction with Powell for months, criticizing him for not cutting interest rates — a stance Trump claims is financially harming the U.S.
On Monday, Trump sent a message to Powell pointing out that interest rates in other countries are lower than those in the U.S., once again accusing the Fed Chair of maintaining “unnecessarily high” rates.
“‘Jerome, once again, you’re too late. Your actions have cost the United States a fortune and continue to do so,’” White House press secretary Karoline Leavitt said, quoting Trump’s note. “‘You need to make a substantial rate cut. We’re losing hundreds of billions, and inflation isn’t even an issue.’”
Then on Wednesday, Trump shared a Bloomberg article on Truth Social regarding the FHFA director’s call for a probe into Powell’s actions.
Trump added his own message: “‘Too Late’ should step down without delay!!!”