Trump renews attack on Powell after Fed holds rates

US President Donald Trump resumed his criticism of Federal Reserve Chair Jerome Powell after the central bank left interest rates unchanged at the end of its policy meeting on Wednesday.

In a post on his social media platform Truth Social, Trump wrote that Powell had “done it again,” calling him “too late,” “too stupid,” and “too political” for the job, and accusing him of costing the US trillions of dollars.

He also pointed to what he described as one of the “most incompetent, or corrupt” renovation projects in construction history, referring to the ongoing refurbishment of the Fed’s headquarters, and claimed Powell’s actions were hurting the country.

Trump’s remarks came after Powell signaled that a potential rate cut in September would depend on upcoming economic data.