Ahead of Wednesday’s Federal Reserve announcement, U.S. President Donald Trump took a jab at Fed Chair Jerome Powell, joking that he’s called him every name in the book in a bid to convince him to lower the federal funds rate.
No Rate Cut, No Filter: Trump Slams Fed Chair With Nicknames and Jabs
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Powell Ignores Name-Calling as Fed Expected to Hold Rates at 99.9%
The U.S. Federal Open Market Committee (FOMC) is gathering today, but don’t bet on a rate cut—because the odds are hanging by a thread. CME futures markets, along with the nearly infallible Fedwatch tool, peg the probability of the rate staying exactly where it is at a sky-high 99.9%.
In the lead-up to the FOMC meeting, U.S. President Donald Trump took another swing at Chair Jerome Powell. Since his re-election in November, Trump has repeatedly taken swipes at Powell. Speaking to Fox News reporters, Trump said:
We have a man that just refuses to lower the Fed rate—Just refuses to do it. He’s not a smart person. I don’t even think he’s that political. I think he hates me, but that’s okay, you know, he should. He should … I call him every name of the book, trying to get him to do something.
Trump hasn’t held back on the insults, recently labeling the Fed chair a “Numbskull” and often tagging Powell with the nickname “Too Late.” “I’ve been so nice to him fellas,” Trump told the group of workers standing behind him during the Fox interview. “Let’s have dinner ‘Too Late,’ Trump remarked. “Come on, ‘Too Late,’ let’s have dinner. I do it every way in the book. I’m nasty, I’m nice. Nothing works. He’s just a stupid person,” the president added.
Trump’s latest barrage of insults may reflect more than just frustration—it could be signaling a brewing power struggle over economic influence. As the Fed stays its course, the president’s escalating rhetoric suggests he sees monetary policy not just as a lever for growth, but as a political chessboard. Whether Powell flinches or not, the clash in 2025 has been personal—and quite public.
