President Trump disagrees with Fed decision regarding rates

U.S. President Donald Trump once again lashed out against Federal Reserve Chair Jerome Powell on Wednesday, just hours after the central bank left interest rates unchanged and remained non-committal to future easing.

Trump said “Powell is the WORST. A real dummy, who’s costing America $Billions!” in a social media post on Wednesday evening.

Trump’s post was on an article about Freddie Mac (OTC: FMCC) and Fannie Mae (OTC: FNMA) Chair Bill Pulte calling for Powell to step down if he doesn’t cut interest rates– a stance that echoes the presidents.

Trump has repeatedly called on Powell to cut rates, having ramped up his criticism of the Fed Chair before the Fed’s rate decision on Wednesday. The president has claimed that Powell’s unwillingness to cut rates was likely to damage the economy.

Powell on Wednesday largely reiterated the central bank’s cautious stance on future rate cuts, citing expectations of increased inflation from Trump’s trade tariffs. He maintained the Fed’s projections of two more rate cuts in 2025 but trimmed the outlook for rate cuts in 2026.

The Fed left its benchmark short-term rate unchanged at 4.25% to 4.5% on Wednesday, after cutting the rate by a cumulative 1% in 2024. The central bank has largely maintained its cautious stance on further easing this year.