Trump calls on Fed board to take control from Powell over interest rates

The US president has hurled insults at Fed Chair Jerome Powell, renewing calls for the Federal Reserve to slash interest rates.

Washington, DC – United States President Donald Trump has called on the Federal Reserve board to wrest control of the central bank from Chairman Jerome Powell and lower interest rates.

In a series of social media posts on Friday, Trump — who has called for lowering interest rates for months — escalated his attacks on Powell, suggesting that the central bank chief should be stripped of his powers.

“Jerome ‘Too Late’ Powell, a stubborn MORON, must substantially lower interest rates, NOW,” Trump wrote.

“IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!”