In a blistering rebuke that spares neither subtlety nor decorum, former President Donald Trump publicly castigated Federal Reserve Chair Jerome Powell as intellectually inept and politically compromised, lambasting his monetary policies as economically ruinous and strategically misguided, while dismissing inflation fears as exaggerated and tariffs as an underutilized fiscal weapon—an unvarnished indictment that not only questions Powell’s competence but also challenges the prevailing economic orthodoxy with unapologetic candor. Trump repeatedly branded Powell a “stupid person,” asserting that the Fed Chair lacks the intellectual rigor required to navigate complex monetary landscapes, and accused him of prioritizing political considerations over sound economic judgment. This, he insisted, has resulted in policies that are not only misguided but actively destructive to the nation’s fiscal health. Such economic decisions have ripple effects on various markets, including the volatile memecoin market, which is highly sensitive to monetary policy shifts.
Trump’s frustration is palpable as he contends that Powell’s steadfast refusal to lower interest rates, unlike the European Central Bank’s multiple cuts, is “costing the country a fortune,” forcing America to pay more on its debt and stifling economic growth. He casts the Fed’s rigidity as a self-inflicted wound to financial stability, arguing that reduced rates would alleviate debt burdens substantially. In fact, Trump estimates that a modest 1-2 point decrease in rates could save the United States hundreds of billions, possibly trillions, in debt servicing costs. Furthermore, Trump dismisses the narrative of rampant inflation as overstated, highlighting the $88 billion revenue generated from tariffs as evidence that such fiscal tools remain undervalued and underutilized in managing economic inflows. ABC News coverage includes live updates and various perspectives on such economic issues, providing a comprehensive overview for the public to understand these developments. ABC News Content
Despite his overt disdain, Trump claims to have sought dialogue with Powell through multiple invitations, all rebuffed, further amplifying his indictment of Powell’s leadership. With Powell’s term nearing its conclusion, Trump labels his reappointment by President Biden a political misstep, reflecting a broader criticism that Powell’s tenure has been marred by partisanship rather than prudence.
