President Donald Trump said the Federal Reserve board should assume control if Fed Chair Jerome Powell continues to refuse to lower interest rates.

“Jerome ‘Too Late’ Powell, a stubborn MORON, must substantially lower interest rates, NOW. IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!” Trump said on Truth Social. 

The U.S. central bank held interest rates steady on Wednesday and Federal Reserve Chair Jerome Powell’s comments after the decision undercut confidence that borrowing costs would begin to fall in September, stoking the ire of Trump, who has demanded immediate and steep rate relief.

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