President Trump criticized Federal Reserve Chairman Jerome Powell on Sunday, claiming he’s keeping interest rates “artificially high” and calling him a “stupid person.” Trump believes rates should be at 1-2% instead of the current 4.25-4.5% range.
The President said he won’t appoint a new Fed chair unless they agree to cut rates immediately, with Treasury Secretary Scott Bessent suggesting a replacement could be nominated as early as October 2025, months before Powell’s term ends in May 2026.