Vice President JD Vance harshly criticized the Federal Reserve on Wednesday after inflation increased at a slower pace than expected, accusing Chair Jerome Powell of mismanaging his job to balance price growth and unemployment through interest rates, The Hill reported.

“The president has been saying this for a while, but it’s even more clear: the refusal by the Fed to cut rates is monetary malpractice,” Vance wrote on X.

The May consumer price index report, which was released on Wednesday by the Labor Department, showed prices rising 0.1% last month, slightly lower than Wall Street’s anticipated 0.2% increase. 

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