Trump lashes out at Powell over rate decision with stream of insults

President Trump on Thursday unleashed a fiery reaction after the Federal Reserve held interest rates steady, blasting Fed chair Jerome Powell with a stream of insults and suggesting corruption in the renovation of the central bank's headquarters. Why it matters: Trump's rage at the Fed's resistance to cut rates has twice taken him to the verge of trying to fire Powell, both times scaring markets and raising concerns about the central bank's independence.Driving the news: The Fed left interest rates unchanged Wednesday, keeping them in a range of 4.25% to 4.5% and suggesting caution on any further cuts this year. Trump has repeatedly insisted rates should be lower, down to 1% or less.What they're saying: "He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair," Trump said in a Truth Social post."He is costing our Country TRILLIONS OF DOLLARS, in addition to one of the most incompetent, or corrupt, renovations of a building(s) in the history of construction!"Powell has taken little public notice of Trump's long series of personal insults, and repeatedly insisted he was focused on doing his job.Flashback: Earlier this month, the administration set up the issue of cost overruns in the $2.5 billion headquarters renovation project as a possible pretext to firing Powell for cause.That led to the unusual spectacle of Trump and Powell touring the building together in hard hats last week, later arguing in front of the cameras about which projects were even included in the overruns.Editor's note: This is a developing story.

Comments

World news

Trump tariffs live: Canada responds after being hit with 35% levy as 92 countries face new rates

Independent

Comments

Similar News

Foreign leaders ‘ringing Trump’s phone’ to cut tariff deals, claim White House

Trump says he ‘doesn’t know’ why Jeffrey Epstein ‘stole’ girls from Mar-a-Lago

Trump takes a step back from Liberation Day's steepest tariffs

Scoop: Congress' Democrats threaten investigation if Harvard cuts deal with Trump

President Trump's Middle East envoy Steve Witkoff to visit an aid site in Gaza

Corruption Scandal Puts Mexico’s President on Defense Against Trump

Live: Global stocks weaken as Trump pushes ahead with trade war

Trump tariffs live: Canada responds after being hit with 35% levy as 92 countries face new rates

How the Threat of Trump’s Highest Tariff Derailed an African Nation

Trump’s tariffs kick into higher gear

Gaza latest: Trump envoy to enter Gaza after Netanyahu talks while nearly 100 aid-seekers killed in Israeli fire

Witkoff to travel to Russia ahead of U.S. sanctions, Trump says

Concern mounts in India as Trump lashes out and trade talks stall

Friday Briefing: Trump’s Tariff Day

Trump Gives Mexico a Reprieve but Slams Canada With Higher Tariffs

Judge rules against Trump and extends deportation protections for 60,000 immigrants

Trump Signs Order Imposing New Tariffs On A Number Of Trading Partners That Go Into Effect In 7 Days

Trump warns Putin’s right-hand man: ‘You’re entering very dangerous territory’

Biden laments over Trump’s handling of the presidency in speech: ‘These are dark days’

Ukraine-Russia war latest: Zelensky calls for Russian regime change as Trump says Putin’s invasion is ‘disgusting’

World news

Trump tariffs live: Canada responds after being hit with 35% levy as 92 countries face new rates

Anger after trophy hunter kills lion that was part of a research project

British tourist, 38, dies after Turkey hair transplant goes wrong

Allan Ahlberg was a hero in my house – no-one understood children better

Indonesia set to release hundreds of prisoners under president's clemency plan

Kitesurfer notices stick in ocean then realise something is alive on the end

Woman disguised pregnancy until partner found dead baby behind their sofa

NYC and NJ weather: States of emergency declared as millions in Northeast drenched by heavy rain

Gaza latest: Trump envoy to enter Gaza after Netanyahu talks while nearly 100 aid-seekers killed in Israeli fire

Russia’s War Is Also Cognitive

My one criticism of Andy Farrell on this Lions tour of Australia

Andi Oliver: I don’t loathe many people, but there’s a radio DJ I’d do time for

The best new books out in August 2025

The microplastics in my blood terrify me – here’s how I am reducing them

Catherine Bohart: ‘I go to stand-up to feel like less of a freak’

My friend Fiona Phillips opened my eyes to the UK’s Alzheimer’s betrayal

M25 ‘road to hell’ faces years of disruption from Heathrow third runway

The best TV series on Prime, Netflix and Disney+ in August

The Golden Triangle market town with Cheshire’s answer to Bond Street

I take hotel breakfast buffet for lunch – does it make me stingy?

Witkoff to travel to Russia ahead of U.S. sanctions, Trump says

More American couples are turning to Italy's 'dolce vita' for memorable weddings

El Salvador approves indefinite presidential reelection and extends presidential terms to 6 years

Pregnant mum wrote shocking question in diary then ended up dead

Two girls shot in Gaza - BBC pieces together what happened and looks at dozens more child shootings

Flooded streets and subway systems as storms slam US East Coast

Scientists in South Africa are making rhino horns radioactive to fight poaching

El Salvador Changes Constitution, Ending Term Limits for Nayib Bukele

Trump Gives Mexico a Reprieve but Slams Canada With Higher Tariffs

Friday Briefing: Trump’s Tariff Day

Ukraine-Russia war latest: Zelensky calls for Russian regime change as Trump says Putin’s invasion is ‘disgusting’

Police reveal suspect in mystery murder of four people after baby was left on stranger’s front lawn

Trump warns Putin’s right-hand man: ‘You’re entering very dangerous territory’

Biden laments over Trump’s handling of the presidency in speech: ‘These are dark days’

I have £80k to gift my son. Should I pay off his student loan or give a flat deposit?

Trump unveils new tariffs on scores of countries – here’s what you need to know

Man found dismembered in cellar - as his partner and mother 'admit killing'

Giuffre's brother on Trump's claims she was "stolen" by Epstein: "She's not an object"

Winnipeg man sentenced to 10 years in prison for killing woman in U.S.

Heartbreaking words boy, 6, told aunt after his siblings drowned during Spain holiday

Brit siblings, 11 and 13, who drowned in Spain begged for 'one last swim'

El Salvador approves indefinite presidential reelection, extends presidential terms

A French Beach Town’s Plea to Tourists: Keep Your Clothes On

E.U. Did Not Retain Texts Sought by Journalists on Covid Vaccine Deal

Rhino horns in South Africa injected with radioactive isotopes to curb poaching

Two deputies fired after inmate mistakenly released from New Orleans jail

Teacher admits to stabbing couple to death while they were hiking with their children in Arkansas, police say

Thousands gather to farewell NYPD officer killed in Midtown mass shooting

See Trump's plans for a multimillion-dollar White House ballroom

Toronto Blue Jays acquire pitchers Bieber, Varland

North Vancouver councillor wants fees for over-budget sewage plant spread more evenly

‘What a beautiful view’: Blind B.C. woman sees after doctors implant tooth in her eye

5 items our beauty editor is loving this month

Trump finally announces new tariff plan hours before deadline - but delays them yet again

Florida sets record for most executions in single year after lethal injection of man who killed his family

‘Taco Thursday’: Social media users taunt Trump after he extends Mexico trade deadline

Mutton bustin': the Little League of rodeo country