Trump calls US Fed chair ‘fool’ after pause in rate cuts

WASHINGTON: US President Donald Trump branded Fed Chair Jerome Powell a “fool” on Thursday after the central bank announced another pause in rate cuts and warned of higher risks to inflation and unemployment goals.

“‘Too Late’ Jerome Powell is a FOOL, who doesn’t have a clue,” Trump posted on his Truth Social network, in a fresh attack on the head of the independent Federal Reserve.

Trump has repeatedly said he wants to see rates cut now to help stimulate economic growth as he rolls out his on-again, off-again tariff plans, which have included huge levies on China. The Fed said Wednesday that policymakers had voted unanimously to hold the US central bank’s key lending rate at between 4.25 percent and 4.50 percent.