While global leaders gathered at The Hague for the NATO summit, Donald Trump was once again turning his sights inward — this time reviving his long-running feud with Federal Reserve Chair Jerome Powell.
And this latest round? It’s personal, heated, and full of name-calling.
Trump Slams Powell Over High Interest Rates
Trump took to Truth Social to blast Powell for refusing to slash interest rates, accusing the Fed of “choking out the housing market.”
In his words, high rates are making it especially tough for young people to afford a home.
He insists the Fed should drop rates by at least 3% — and fast.
He didn’t mince words, calling Powell a “numbskull” and placing the blame squarely on him for what Trump claims is unnecessary financial pain for Americans. “Too Late,” Trump nicknamed him, referencing Powell’s timing on rates, adding: “So bad for our country!”
From “Terrible Job” to “Truly One of My Worst Appointments”
This isn’t the first time Trump has gone after Powell.
Over the years, he’s thrown around insults like “knucklehead,” “stupid,” “low IQ,” and “average mentally person.” On Friday, he doubled down, calling Powell “truly one of my worst appointments,” while also jabbing at President Biden for reappointing him.
Even the Federal Reserve’s Board of Governors wasn’t spared — Trump blamed them as “equally responsible” for letting Powell run wild, in his view.
The $2.5 Billion Renovation Controversy
One of Trump’s latest grievances is over a $2.5 billion renovation of the Federal Reserve’s Depression-era headquarters.
Trump ridiculed the cost, portraying it as reckless spending, especially during economic uncertainty.
That triggered a response from Powell himself, who clarified in a letter to the White House that no VIP dining rooms or elevators were part of the plan.
He said the project, which started under the Board’s approval in 2017, is being carefully managed.
Powell also defended the so-called “vegetated roof” — essentially a green space that doubles as stormwater management — saying it’s not just aesthetic fluff.
Trump Won’t Fire Powell — For Now
Despite all the insults and public pressure, Trump recently backed off from firing Powell — at least for the time being
. He admitted earlier in the week that it’s “highly unlikely” he’ll remove him, especially after news of that possibility sent shockwaves through the financial markets.
And there’s also the legal wrinkle: Powell leads an independent institution that has some protection under a Supreme Court ruling.
But Trump has other options. Powell’s term is set to expire next year, and if Trump returns to the White House, he could simply wait it out and install someone new.
A Familiar Pattern of Public Pressure
Trump has a history of using public platforms to apply pressure, especially when it comes to the economy.
His latest comments came just after OMB chief Russell Vought sent a scathing letter criticizing the renovation project’s cost.
Powell’s response tried to tamp down the controversy — but Trump clearly isn’t buying it.
Whether or not Powell’s leadership survives another term, the battle of words is unlikely to cool down anytime soon — especially with the economy taking center stage in the 2026 political conversation.