Trump claims Federal Reserve has been 'discredited' under Powell's leadership

President Donald Trump slammed Federal Reserve Chairman Jerome Powell again Thursday night, claiming that the reserve has been discredited after he kept U.S. interest rates high despite mortgage rates falling to a three-year low.

Trump has repeatedly attacked Powell for his hesitation to cut interest rates, giving him the nickname “too late” Powell. He has previously suggested he may fire Powell, though the president’s authority to do so remains the subject of debate.

The president claimed that Powell’s leadership at the central bank has “discredited” the institution and indicated that the chairman’s decision to keep interest rates steady was a personal attack due to the pair’s ongoing feud. 

“Mortgage Rates just hit a Three-Year Low despite Jerome ‘Too Late’ Powell, and his never ending quest to keep Interest Rates high (against ‘TRUMP!’),” he posted on Truth Social. “It just shows that he has been wrong all along, because the Market is overtaking his obstinance. The Fed has been hurt and discredited during Too Late’s reign.” 

The latest attack comes as the Trump administration investigates Powell over his testimony before the Senate Banking Committee last June.

The probe is at least partly related to remarks Powell made about a long-running effort to renovate historic Federal Reserve buildings and the costs associated with it, though the chairman claimed it should be viewed against the backdrop of escalating political tensions between the central bank and the White House.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.