Donald Trump pushes US Federal Reserve for rate cuts, criticises Jerome Powell

U.S. President Donald Trump arrives shakes hands with Jerome Powell

President Donald Trump on Saturday said in a social media post the U.S. Federal Reserve should cut rates "sooner, rather than later." Trump also criticized the head of the central bank, Jerome Powell.

"THE CONSENSUS OF ALMOST EVERYBODY IS THAT, 'THE FED SHOULD CUT RATES SOONER, RATHER THAN LATER,'" Trump said in the post. "Too Late Powell, a man legendary for being Too Late, will probably blow it again - But who knows???" Trump added.

U.S. President Donald Trump said he will not remove Jerome Powell as Federal Reserve Board chairman before his term ends in May 2026 while describing the central banker as "a total stiff" and repeating calls for the Fed to lower interest rates.

Trump insisted that his moves to upend the global trading system with higher tariffs would eventually make Americans rich, and insisted that a first-quarter contraction in the U.S. economy was the result of former President Joe Biden's policies.

In an interview with “Meet the Press with Kristen Welker” on NBC News that aired on Sunday, Trump said he expected the Fed to lower interest rates at some point.

"Well, he should lower them. And at some point, he will. He'd rather not because he's not a fan of mine. You know, he just doesn't like me because I think he's a total stiff," he said in the interview, which was taped in Florida on Friday.

Asked if he would remove Powell before his term as chair ends in 2026, Trump issued his most definitive denial, saying, "No, no, no. That was a total – why would I do that? I get to replace the person in another short period of time."