With Federal Reserve policymakers reportedly split on whether to lower interest rates next month, President Donald Trump said he was being held back from firing Chairman Jerome Powell’s “ass.”
The president’s frustration intensified this week as media reports revealed deep divisions inside the Fed over a December rate cut — a move Trump has publicly demanded in order to support growth, ease borrowing costs, and counter what he calls the lingering inflation left over from the Biden years.
Trump said Powell remains, in his words, “Jerome ‘Too Late’ Powell,” arguing the Fed chief has damaged the housing market and acted too slowly on rates.
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