Trump rips Federal Reserve Chair and calls him Jerome ‘Too Late’ Powell as he threatens a lawsuit for one bizarre reason

President Trump just went after Federal Reserve Chair Jerome Powell again, giving him the biting new nickname, Jerome “Too Late” Powell, for refusing to drop interest rates quickly enough, as per The Hill. The president isn’t holding back his feelings about the central bank’s leader. He took to Truth Social to claim that the market is actually overtaking Powell’s stubbornness, pointing out that mortgage rates just hit a three-year low despite the Fed’s actions.

President Trump wrote, “Mortgage Rates just hit a Three Year Low despite Jerome ‘Too Late”’ Powell, and his never ending quest to keep Interest Rates high (against ‘TRUMP!’).” The president feels this whole situation proves that Powell has “been wrong all along,” arguing that the market success is happening despite the Fed’s efforts. He also added that the central bank has been “hurt and discredited” during Powell’s tenure.

Overall, the president’s main goal is to see interest rates drop significantly. He’s constantly touting the success of his economic policies, including strong job growth and the positive impact of his sweeping tariffs. He really wants Powell to acknowledge those successes by lowering the cost of borrowing money for everyone.

While the interest rate issue is the main conflict, President Trump has actually been threatening Powell on an extremely weird front, too

Back in December, the president actually floated the idea of suing the Fed chair for “gross incompetence” related to the bank’s headquarters renovation. During a press conference, the president stated that the renovation budget was completely out of control. “We’re thinking about bringing a suit against Powell for incompetence. Because think of it, these aren’t outstanding buildings. These are small buildings,” he said.

It’s important to know that Powell isn’t just sitting back and taking the heat. He’s been dealing with Trump’s anger for months, and now he’s even facing a federal probe himself. This investigation is tied to his congressional testimony last year regarding the ongoing renovation of the Federal Reserve’s Washington, D.C., headquarters.

Powell sees this investigation as a clear attempt at political pressure and intimidation. He addressed the probe’s launch, saying he has “deep respect for the rule of law and for accountability in our democracy.” He stressed that no one, “certainly not the chair of the Federal Reserve, is above the law.” However, Powell quickly pushed back against the nature of the inquiry.

He suggested that this “unprecedented action” should be viewed in the broader context of the current administration’s “threats and ongoing pressure.” Powell argues the real issue is whether the Fed can continue to set interest rates based on evidence, or if monetary policy will be directed by political goals.

Despite Trump’s complaints that the Fed is moving too slowly, they have actually been cutting rates recently. The Fed has implemented a 0.25 percentage point cut at each of its last three meetings. Currently, the interest rate sits between 3.50 and 3.75 percent. It seems like the market is moving, just maybe not fast enough to satisfy the president.