‘Dumb, Complete Moron, Low IQ’: How Donald Trump has repeatedly attacked Jerome Powell over US Fed rate cut

US President Donald Trump has ramped up his long-standing criticism of Federal Reserve Chair Jerome Powell, launching a fresh round of personal attacks over the central bank’s decision to hold interest rates steady.

During a press conference at the NATO summit in the Netherlands on Wednesday, Trump called Powell “an average mentally person” and “a very stupid person,” adding: “Low IQ for what he does.”

Earlier, he had also labeled the Fed chief “an obvious Trump Hater,” claiming Powell’s refusal to cut interest rates is costing the US government hundreds of billions of dollars in interest payments.

The US Federal Reserve earlier this month left its benchmark interest rate unchanged at 4.25%–4.50%, citing persistent inflation and global economic uncertainty.

Trump, who nominated Powell to the role in 2017 during his presidency, has increasingly turned on the Fed chief — one of the few Trump appointees retained by President Joe Biden. Jerome Powell was renominated by Biden for a second term, which expires in May 2026.

Asked whether he is considering a replacement, Trump responded: “Yeah, I know within three or four people who I’m going to pick.” He added, “Fortunately, his term is up pretty soon, because I think he’s terrible.”

Pattern of Attacks

This isn’t the first time Trump has publicly derided Powell. On his social media platform Truth Social, Trump has repeatedly blamed the Fed chair for keeping rates too high and, in his view, stifling economic growth.

“If he reduced [rates] to the number they should be, 1% to 2%, that ‘numbskull’ would be saving the United States of America up to $1 Trillion Dollars per year,” Trump posted earlier.

“He’s a dumb guy… a Total and Complete Moron!”

In a previous post, Trump claimed the US economy is strong, inflation is under control, and the Fed is unjustified in keeping rates elevated.

“No inflation, great economy — we should be at least two to three points lower… What a difference this would make,” he wrote. “I hope Congress really works this very dumb, hardheaded person over.”

Trump’s comments come as central banks globally begin to signal rate cuts amid easing inflation, but the Fed has remained cautious, warning of premature moves that could reignite price pressures.

A Complicated Legacy

Despite his current criticism, Trump was the one who elevated Powell to Fed Chair in 2018, replacing Janet Yellen. At the time, Powell was viewed as a consensus candidate who would carry forward the Fed’s post-crisis normalization strategy.

In recent years, Trump has claimed he regrets the decision.

> “I listened to someone that I shouldn’t have listened to,” he wrote. “Biden shouldn’t have reappointed him.”

While Powell has refrained from responding directly to Trump’s remarks, the Fed’s stance has remained unchanged: rate decisions will be guided by inflation trends and labor market data, not political pressure.

Powell has maintained that it’s premature to cut interest rates, citing economic uncertainties — including the potential inflationary impact of Trump tariff policies, which many economists believe could push prices higher in the months ahead.

Ironically, the inflation rate is currently lower than when Trump took office, a point the president has often used to argue for aggressive rate cuts. However, Fed officials have emphasized that future risks, including geopolitical tensions and trade policy shifts, must be factored into monetary decisions.

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