President Donald Trump on Tuesday took several shots at Federal Reserve Chair Jerome Powell, calling him a “loser.”
In a post on Truth Social, the president wrote, “Jerome ‘Too Late’ Powell must NOW lower the rate. Steve ‘Manouychin’ really gave me a ‘beauty’ when he pushed this loser. The damage he has done by always being Too Late is incalculable.”
Trump continued:
Fortunately, the economy is sooo good that we’ve blown through Powell and the complacent Board. I am, though, considering allowing a major lawsuit against Powell to proceed because of the horrible, and grossly incompetent, job he has done in managing the construction of the Fed Buildings. Three Billion Dollars for a job that should have been a $50 Million Dollar fix up. Not good!
In July, Trump toured the ongoing construction at the Federal Reserve alongside Powell, according to Breitbart News.
When a reporter asked the president, with his experience as a real estate developer, what he would do with a project manager who went over budget, Trump said he would fire him.
Another reporter asked the president if cost overruns gave him a reason to do so, to which he replied, “Well, I’m here just really with the chairman. He’s showing us around, showing us the work, and so I don’t want to get that — I don’t want to be personal. I just would like to see it get finished.”
Breitbart News reported that the July jobs report looked terrible for American workers, the nation’s economy, the Federal Reserve, and Powell.
“But it was also a vindication for Donald Trump, for dissenting Fed Governors Christopher Waller and Michelle Bowman, and for a private sector economist named Neil Dutta,” the article continued:
With payrolls rising by just 73,000 and prior months revised down by a stunning 258,000 jobs, the data confirmed what critics have warned for months: the Fed’s overly tight policy has weakened the labor market. It’s hard to imagine a sharper rebuke to Jerome Powell’s complacent view of the labor market.
Trump has repeatedly argued that Federal Reserve policy was strangling growth just as his second administration was beginning to turn the economy around. Now he has the data to prove it. Waller and Bowman warned in real time that the labor market was weakening. And Dutta—almost alone among Wall Street economists—correctly diagnosed the softening months ago.
More recently, the outlet noted Powell’s term expires in May 2026 and Trump will “most certainly” name another for the position.
“But Powell doesn’t have to leave the Fed. In fact, he could remain on the Board of Governors until 2028 — years into Trump’s second term,” the report explained.
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