United States President Donald Trump harshly criticized Federal Reserve Chair Jerome Powell on Thursday after the Fed decided not to lower its key interest rate. Trump, posting on Truth Social, labeled Powell as “a fool, who doesn’t have a clue,” expressing frustration with the central bank’s stance. He added with sarcasm, “Other than that, I like him very much!”

Trump defended his administration’s economic record, emphasizing that oil, energy, groceries, and egg prices are down, and claimed that there is “virtually NO INFLATION.” He also touted tariff revenues flowing into the US, stating that the situation is “the exact opposite of ‘too late,’” referring to Powell’s earlier comments.

During the press conference following the Fed’s decision, Powell stated that the central bank is not “in a hurry” to make adjustments to interest rates. He noted that while the US economy appears stable, the uncertainty stemming from the president’s new trade policies could eventually lead to inflation. However, Powell acknowledged that current US data have not yet shown any such effects.

The exchange highlights ongoing tensions between Trump and the Federal Reserve, as the president continues to push for lower rates to further stimulate the economy, while the Fed maintains a cautious approach.