Trump’s Ink-Stained Message: “Too Late” Powell Gets Scorched In Handwritten Rate Cut Demand
President’s Sharpie Scrawl on Global Rates Chart Amplifies Pressure on Fed Chair
In his latest and perhaps most personal push to influence monetary policy, President Trump on Monday shared a handwritten note to Federal Reserve Chair Jerome Powell, scolding him for what he deems excessively high interest rates.
The note, posted on Truth Social, accompanied a scathing critique of Powell and the entire Federal Reserve board, whom Trump declared “should be ashamed of themselves” for failing to lower rates.
“They have one of the easiest, yet most prestigious, jobs in America, and they have FAILED — And continue to do so,” Trump wrote on Truth Social.
The handwritten message to Powell, scrawled in Sharpie across an image comparing global interest rates, was unmistakably direct.
“Jerome – You are, as usual, ‘too late.’ You have cost the USA A fortune – and continue to do so – you should lower the rate – by a lot!” Trump penned, adding, “Hundreds of billions of dollars being lost! No inflation.” He further annotated the chart, asserting the United States should have interest rates at “1.75 percent or less.”
This public broadside underscores President Trump’s long-standing frustration with the Federal Reserve’s cautious approach.
White House Press Secretary Karoline Leavitt echoed these sentiments earlier, reading a formal letter from the President that highlighted an “economic boom” under his policies and contrasting it with the Fed’s perceived inaction. Leavitt emphasized that the American economy is “booming,” citing a “massive deregulation campaign” and diminished inflation.
The President’s criticisms have been relentless, with Trump often nicknaming Powell “Too Late.” He has even openly mused about firing Powell, whom he appointed in 2017.
Adding to the tension, Federal Reserve officials, who began the year expecting to continue cutting interest rates as inflation trended toward 2 percent, have held off on further reductions through the first half of 2025. This hesitation is largely attributed to the economic uncertainty driven by Trump’s tariff plans. Powell himself reiterated his call for patience last Wednesday after the Fed once again kept rates steady.
The President and his administration argue that his “proven economic formula” has propelled the American economy forward, with the only significant impediment being the Fed’s “artificially high” interest rates. The public display of his handwritten note intensifies the pressure on the central bank, setting the stage for a continued high-stakes standoff over the future of U.S. monetary policy.
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