Former President Donald Trump reignited his public feud with Federal Reserve Chair Jerome Powell on Monday, using one of his favorite tools: a printed chart and a Sharpie-scrawled rant.
During a press briefing, White House press secretary Karoline Leavitt held up a sheet Trump had marked up—a global list of interest rates from 44 countries. Switzerland sat at the top with a 0.25% rate, while the U.S. and nine other nations were tied for the highest rate at 4.5%.
“Should be here,” Trump wrote near the top, drawing an arrow to lower-rate countries. Below that, in bold block letters, he addressed Powell directly:
“Jerome ― You are, as usual, ‘too late.’ You have cost the USA a fortune — and continue to do so — you should lower the rate — by a lot!” he wrote. “Hundreds of billions of dollars being lost! No inflation!”
Trump then posted a photo of the annotated chart on Truth Social, using the opportunity to lash out again at Powell and the Federal Reserve Board, saying they “should be ashamed of themselves” and demanding an aggressive rate cut to 1%.
Though Trump has repeatedly threatened to fire Powell, the president does not have the authority to do so. Still, sources say Trump is considering naming a replacement for Powell as early as this summer—well before the current Fed chair’s term ends—potentially setting up what some have called a “shadow chair” scenario.
