Trump Criticizes Jerome Powell: High Interest Rates Are a Disaster for the US

Donald Trump launched a sharp critique against Federal Reserve Chair Jerome Powell through a post on Truth Social on Monday local time. Including a satirical illustration, Trump emphasized that delayed monetary policy is a disaster for the U.S. economy. This criticism arose alongside a surge in 10-year bond yields approaching 4.50% and mortgage rates now exceeding 6.5%.
​Pressure on Jerome Powell is intensifying as his term ends on May 15, 2026. Last week, the Fed decided to keep interest rates at 3.50% - 3.75% through a vote that recorded the highest internal opposition since 1992. Meanwhile, Trump’s preferred candidate, Kevin Warsh, is scheduled to participate in a full Senate vote next week to determine the future leadership of the U.S. central bank.
​This monetary policy uncertainty is worsened by geopolitical escalation in the Strait of Hormuz, which triggered a 5.95% spike in Brent crude oil prices to $114.61. The combination of energy inflation and leadership transition at the Fed is creating significant pressure on crypto market sentiment and global capital markets.