Trump rips Powell again: 'Too late.. is my worst appointments'
Donald Trump is once again turning up the heat on Federal Reserve Chair Jerome Powell, this time calling him “truly one of my worst appointments” and blaming him directly for freezing out young homebuyers with high interest rates.
“Too Late,” and the Fed, are choking out the housing market with their high rate, making it difficult for people, especially the young, to buy a house,” Trump wrote on Truth Social Friday. “He is truly one of my worst appointments. Sleepy Joe saw how bad he was and reappointed him anyway.”
Trump didn’t stop there, taking aim at the entire Fed Board: “And the Fed Board has done nothing to stop this ‘numbskull’ from hurting so many people. In many ways the Board is equally to blame!”
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Trump has been vocal for months about his belief that interest rates should already be slashed. He doubled down on that view: “The USA is Rockin’, there is VERY LOW INFLATION, and we deserve to be at 1%, saving One Trillion Dollars a year on Interest Costs. I can’t tell you how dumb Too Late is - So bad for our Country!”
Why it matters for crypto
Trump’s renewed attacks on the Fed come just as Bitcoin trades near $119,000 and Ethereum crosses $3,600, according to Kraken. With altcoins like DOGE and ADA surging 11% and 6% respectively, traders are increasingly viewing political volatility as fuel for crypto’s comeback — especially if it results in lower interest rates.
Trump has been openly questioning whether Powell should remain in his role. Just last month, he reportedly asked GOP lawmakers in the Oval Office if he should fire the Fed Chair. And while he later told reporters it’s “highly unlikely” he’ll do so, he admitted, “Almost all of them said I should.”
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The Fed, under Powell, has held rates steady throughout 2025 despite inflation cooling below 3%, arguing that premature cuts could reignite price pressures. Powell has also flagged concerns about Trump’s planned tariffs potentially pushing inflation back up.
High interest rates reduce investor appetite for risk. When rates are high, investors prefer safer assets like Treasuries — not volatile ones like Bitcoin or altcoins. That’s why crypto prices soared during the 2020–2021 low-rate era, and struggled once the Fed began hiking. If the inflation slash rates to 1%, it could revive the easy-money conditions that previously supercharged the crypto bull market.