President Donald Trump lashed out at Federal Reserve Chair Jerome Powell on Thursday, according to CNBC. The President called Powell a "fool" in a Truth Social post after the central bank chose to hold interest rates steady due to ongoing economic uncertainty tied to tariffs. The Fed left its benchmark rate at 4.25% to 4.5% for the third straight meeting, citing risks of rising inflation and unemployment. Trump claimed inflation is virtually nonexistent and insisted his tariff policies are boosting the U.S. economy. Powell responded that political pressure plays no role in Fed decisions, emphasizing the bank’s commitment to data-driven policy. Markets had previously dipped on fears Trump might fire Powell, but he recently ruled out that option, easing investor concerns.
