Trump ramps up pressure on ‘Too Late’ Jerome Powell to lower interest rate with brutal handwritten note

WASHINGTON, DC: President Donald Trump has found a new way to ramp up pressure on Federal Reserve Chairman Jerome Powell to lower interest rates.

The 79-year-old president took a brutal dig at Powell and accused him of costing "the USA a fortune” in an invective-laced note scribbled on a list of central bank interest rates around the world.

Trump has been putting pressure on Powell, whom he chose for chair during his first term, to cut the Fed's short-term benchmark rate, but Powell has refused to budge.

Trump accuses Jerome Powell of costing 'the USA a fortune'

In his latest attack, the president sent a handwritten note to Powell in all-caps with his familiar Sharpie marker, once again telling him that he is 'too late' in bringing down the interest rates.

“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! Hundreds of billions of dollars are being lost,” Trump wrote.

Trump also wrote "should be here" next to the column that classified interest rates from lowest to highest by country, and drew a bracket between Japan's 0.5% and Denmark's 1.75%.

He shared an image of the handwritten note on his Truth Social, commenting that being a central banker in the US was "one of the easiest, yet most prestigious jobs in America, and they have FAILED…"We should be paying 1% interest or higher!"

The president then went on to claim that Powell and the rest of the Federal Reserve Board of Governors should be "ashamed of themselves."

Trump shared the image on Truth Social just a few hours before White House press secretary Karoline Leavitt revealed the note in a press briefing and described it as 'original correspondence' from Trump.

"As the president has consistently stated, the American economy is booming, and there were so many economic analysts who said that this president's policies would drive our economy down, when in fact, we have seen the opposite," she said at the top of the briefing, according to Daily Mail.

“The American people want to borrow money cheaply, and they should be able to do that, but unfortunately, we have interest rates that are still too high,” ahe said.

“The president made clear where he thinks US rates should be. 'Should be here,' he wrote on his note, pointing to six countries with lower rates at the top of his list,” Leavitt continued.

Jerome Powell resists lowering rates to monitor if tariffs would drive inflation

The development comes as Trump has launched a barrage of personal assaults on the Fed chair for not decreasing interest rates, branding him a "numbskull" and nicknaming him "Mr. Too Late."

In a press conference at the recent NATO meeting, Trump claimed that Powell is "terrible" and a "very average mentally person" with a "low IQ for what he does."

In an interview with Fox News' Maria Bartiromo on Sunday morning, the president claimed that he has urged Powell to cut interest rates to "1% or 2%."

But policy makers have kept the Fed rate at between 4.25% and 4.5% since December as inflation remains above its 2% target.

In June, Powell testified before a House committee that he has resisted lowering rates in order to monitor whether tariffs will drive inflation.

“We do expect to show up — tariff inflation to show up more. But I want to be honest, we really don't know how much of that's going to be passed through to the consumers,” Powell stated.

“We just don't know. And we won't know until we see it. It could be lower than we expect; it could be higher. We have to wait and see, which is kind of what we're doing,” he continued.