From 'Numbskull' to 'Too Late': A quick take on 5 major attacks in Trump's salvo vs Powell as Fed chair keeps calm

US President Donald Trump’s verbal barrage against Federal Reserve Chair Jerome Powell has intensified since his return to the White House in January, with attacks now coming almost daily. His latest salvo on Tuesday mixed demands for immediate interest rate cuts with accusations over a costly Fed building project.

“Jerome ‘Too Late’ Powell must NOW lower the rate,” Trump wrote on Truth Social, adding that the US economy was performing strongly despite what he called Powell’s missteps. “Fortunately, the economy is sooo good that we’ve blown through Powell and the complacent Board.”

Trump also said he was weighing “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.” Claiming the project cost $3 billion instead of what he believed should have been a $50 million refurbishment, he concluded: “Not good!”

The president’s repeated attacks on Powell have alarmed economists who warn of potential damage to the Fed’s independence. Powell, whose term ends in May 2026, has largely ignored the personal jibes, sticking to data-driven policy.

Here are five instances where Trump escalated his rhetoric:

1. 'Numbskull'

Last month, Trump called Powell a “numbskull” while predicting his departure in eight months. “People aren’t able to buy a house because this guy is a numbskull. He keeps the rates too high, and is probably doing it for political reasons,” Trump said at a White House press conference.

2. 'Too Late' and 'one of my worst appointments'

On Truth Social, Trump branded Powell “truly one of my worst appointments” and accused him of freezing young buyers out of the housing market. “Too Late,” and the Fed, are choking out the housing market with their high rate,” he wrote.

3. 'Stubborn mule'

Trump once labelled Powell a “stubborn mule” and a “stupid person” while demanding a one-percentage-point rate cut.

4. 'Whining like a baby'

Citing a Council of Economic Advisers study claiming tariffs had “ZERO IMPACT” on inflation, Trump wrote: “Someone should show this new study to ‘Too Late’ Jerome Powell, who has been whining like a baby about non-existent Inflation for months, and refusing to do the right thing. CUT INTEREST RATES-JEROME- NOW IS THE TIME!”

5. 'Talking to a chair'

On the Fed building renovation project, Trump said Powell was “like talking to a chair… no personality, no high intelligence, no nothing,” and called the cost “pretty disgraceful.”

Despite the onslaught, Powell has kept the Fed’s course unchanged, with officials signalling that rate decisions will continue to depend on economic data rather than political pressure.