President Donald Trump delivered a blistering critique of Federal Reserve Chairman Jerome Powell on Wednesday, slamming his refusal to lower interest rates as politically motivated and economically disastrous. In a fiery exchange with reporters, Trump didn’t hold back, calling Powell “a stupid person” whose misguided policies are costing the United States hundreds of billions—if not trillions—of dollars.
“So, we have a stupid person, frankly, at the Fed. He probably won’t cut today,” Trump declared. “Europe had 10 cuts, and we had none. And I guess he’s a political guy. I don’t know, he’s a political guy who’s not a smart person, but he’s costing the country a fortune.”
The President’s frustration is justified. While Powell dithers, claiming he needs “further clarity” before acting, America’s economy is being strangled by artificially high interest rates. Meanwhile, European central banks have aggressively slashed rates to stimulate growth, leaving the U.S. at a competitive disadvantage. Trump highlighted the absurdity of the situation, pointing out that the U.S. is now “38th in interest” when it should be leading the world with the lowest rates.
“We’d save six, seven, $800 billion,” Trump emphasized. “We should be number one. We should be the lowest. We’re paying more interest than a lot of European nations that can’t carry our suitcase.”
The liberal media, of course, will ignore these facts. Instead of holding Powell accountable for his failures, they’ll spin Trump’s comments as “reckless” or “unpresidential.” But the truth is, Trump understands economics far better than the so-called experts at the Fed. Under his leadership, the economy boomed—until Powell’s stubbornness began sabotaging growth.
Trump even floated the idea of taking matters into his own hands, joking, “Maybe I should go to the Fed. Am I allowed to appoint myself, Doug? I don’t know. Am I allowed to appoint myself at the Fed? I do a much better job than these people.” Given Powell’s track record, it’s hard to argue otherwise.
The stakes couldn’t be higher. With short-term debt coming due, every percentage point Powell refuses to cut costs taxpayers billions. “If he’d lowered a point, I’d pay about a point less,” Trump explained. “If he’d lower it two points, I’d pay about two points less. And that’s for 10 years, 12 years, 15 years, five years; It’s hundreds of billions, it’s even trillions of dollars, that we’re going to lose because of this ‘Too Late.’”
The liberal media won’t tell you this, but Trump is right—again. While they obsess over fake scandals, he’s fighting to save America from Powell’s incompetence.