United States President Donald Trump said on Friday that if Federal Reserve Chair Jerome Powell does not lower the interest rates, the Federal Open Market Committee's (FOMC) board members should "ASSUME CONTROL."
"Jerome 'Too Late' Powell, a stubborn MORON, must substantially lower interest rates, NOW. IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE," Trump said in a post on Truth Social.
The US president previously called Powell "TOO ANGRY, TOO STUPID, & TOO POLITICAL" to remain as Fed chair after the central bank decided to keep its interest rates unchanged for the fifth consecutive time on Wednesday. However, the decision was not unanimous, as two FOMC members, Michelle Bowman and Christopher Waller, voted to lower the target range for the federal funds rate by 25 basis points.