To The Moon

U.S. President Donald Trump called on Monday for "lower interest rates NOW," slamming Federal Reserve Chair Jerome Powell as "Mr. Too Late" and "a major loser."

"'Preemptive Cuts' in Interest Rates are being called for by many," Trump wrote in a post on his Truth Social platform. "With Energy Costs way down, food prices (including Biden's egg disaster!) substantially lower, and most other 'things' trending down, there is virtually No Inflation. With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW. Europe has already 'lowered.'"

Trump has called in recent weeks for the Fed to cut its benchmark Federal Funds rate, arguing the U.S. inflation is under control and doesn't require hefty interest rates to counteract higher prices.

The president's push has come even though core U.S. inflation as measured by the Personal Consumption Expenditures index came in at a 2.8% annual rate in February -- higher than the Fed's 2% target.

Still, Trump has threatened to fire Powell over the Fed's rate policies, even though the president originally elevated the Fed chief to the chairmanship in 2017. However, it's unclear whether the president really has the power under U.S. law to remove Powell before the Fed chair's current term ends next year.

Nonetheless, the president slammed Powell last week after the Fed chair warned in a speech that Trump's tariffs could make the central bank's job and maximizing U.S. employment while minimizing inflation harder.

Trump wrote on his Truth Social platform after the Fed chief's speech that "Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete 'mess!' Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates … long ago, but he should certainly lower them now. Powell's termination cannot come fast enough!”

The president also implied last week in remarks to reporters he believes he can legally fire the Fed chair.

"I'm not happy with him," the president said. "I let him know it and if I want him out, he'll be out of there real fast, believe me."