Trump Slams Fed Chair After Dual Dissent on Rates

President Donald Trump sharply criticized Federal Reserve Chair Jerome Powell after the Fed voted 9-2 to hold interest rates steady at 4.25%-4.5% for the fifth consecutive meeting. Trump accused Powell of being 'too angry, too stupid, & too political,' blaming him for financial losses and a 'corrupt' Fed headquarters renovation. The dissenting votes came from Trump-appointed governors Christopher Waller and Michelle Bowman, marking the first dual dissent since 1993. Powell defended the rate decision, citing persistent inflation and the need to assess the impact of Trump’s tariffs, while reiterating the Fed's independence. Though Trump has threatened to replace Powell before his term ends in 2026, he now suggests he will likely wait until then. The dispute highlights political friction over monetary policy and concerns about the central bank's independence.