"Jerome "Too Late" Powell must NOW lower the rate," Trump said on his Truth Social, adding that Powell’s slow actions hurt the economy, but its strength had outweighed the impact.
"I am, though, considering allowing a major lawsuit against Powell to proceed because of the horrible, and grossly incompetent, job he has done in managing the construction of the Fed Buildings," Trump added.
In early July, Trump said that Powell should immediately resign. Shortly before that, the president told reporters that he had two or three people who could succeed Powell, whom he called a "moron." Later that month, the US Federal Reserve decided to keep the interest rate at 4.25-4.5% despite Trump's repeated calls for cuts.