As the U.S. Federal Reserve prepares to make another decision on interest rates, Donald Trump has, as usual, once again criticized Jerome Powell. What is he saying?
Donald Trump attacks Jerome Powell again
Aside from raising tariffs, one of Donald Trump’s favorite ways to influence the U.S. economy is to criticize the monetary policy of Jerome Powell, the chair of the U.S. Federal Reserve.
On Monday, on his social media platform Truth Social, the U.S. president posted a lengthy tirade, questioning the courts’ decisions regarding his infamous “tariffs” and seizing the opportunity to criticize Jerome Powell once again:
The courts treat Republicans, and me, so unfairly, always seeming to protect those who shouldn’t be protected. They are extremely politicized. What matters isn’t the substance of the case, but the judge! For example, how is it that this absolutely disastrous Federal Reserve Chair, Jerome “Too Late” Powell, isn’t even being investigated for his deplorable work?
Further on, he stands by his criticism of the Fed chair and the Justice Department:
I have strongly criticized Jerome “Too Late” for his poor track record throughout his tenure, which stems from either gross incompetence, total dishonesty, or both. In response to this entirely justified criticism, I am, as usual, being violently and unjustly accused by a bizarre, odious, dishonest, and completely uncontrollable judge named James Boasberg—a man suffering from Trump derangement syndrome to an extreme degree, who has been attacking my people and me for years.
In any case, the Fed is currently holding a FOMC meeting, and Jerome Powell is expected to make the final announcement of his term on Wednesday regarding his decision on key interest rates. Much to Donald Trump’s displeasure, these rates are expected to remain in the range of 3.5% to 3.75%, according to data from the CME Group:
Estimates of the Fed’s next interest rate decision
After raising interest rates to 5.5% in July 2023 in response to the excesses of the COVID crisis, the Fed began cutting rates in September 2024, while current levels correspond to those of fall 2022.
With the U.S. government carrying nearly $38.8 trillion in debt, interest rates play a role in how quickly the government will increase that debt. Nevertheless, U.S. debt has still risen by 7.18% since Donald Trump returned to the White House in January 2025.
