WASHINGTON–President Donald Trump is criticizing Federal Reserve Chairman Jerome Powell after the Fed declined to cut interest rates when it adjourned its meetings earlier this week. 

“’Too Late’ Jerome Powell is a FOOL, who doesn’t have a clue,” Trump wrote in a post on Truth Social. “Other than that, I like him very much! Oil and Energy way down, almost all costs (groceries and “eggs”) down, virtually NO INFLATION, Tariff Money Pouring Into the U.S. — THE EXACT OPPOSITE OF “TOO LATE!” ENJOY!”

As the CU Daily reported, the Fed issued a statement earlier this week that it left its benchmark interest rate untouched as it continues to monitor inflation and the labor market amid elevated levels of economic uncertainty.

The benchmark federal funds rate remains at a range of 4.25% to 4.5%.

‘That’s All We’re Going to Consider’

“We’re always going to do the same thing, which is we’re going to use our tools to foster maximum employment and price stability for the benefit of the American people,” Powell said during a press conference following its meeting. “We’re always going to consider only the economic data, the outlook, the balance of risks. And that’s it. That’s all we’re going to consider. So it really doesn’t affect either our job or the way we do it.”