'TOO LATE Jerome Powell': Trump bashes Fed Reserve Chief, calls for his termination - Here's why

US President Donald Trump once again lashed out at Federal Reserve Chief Jerome Powell, calling him "TOO LATE AND WRONG" over his inflation remarks. 

Trump also asked Powell to lower interest rates in the country and called for his termination. 

In a post on Truth Social, the US president said, "The ECB is expected to cut interest rates for the 7th time, and yet, “Too Late” Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete “mess!”

Trump in his post continued, "Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!."

On Wednesday, during an event hosted by the Economic Club of Chicago, Powell said that Trump's significant policy changes are unlike anything seen in modern history. 

Powell warned that Trump's trade tariffs pose a serious risk to the American economy by potentially accelerating inflation and dampening economic growth.

He added that “the level of the tariff increases announced so far is significantly larger than anticipated” and that the lingering uncertainty around tariffs could inflict lasting economic damage. 

"Tariffs are highly likely to generate at least a temporary rise in inflation," Powell said, adding that the inflationary effects "could also be more persistent."

Despite the threat, Powell cleared that the Fed would not rush to intervene and no immediate changes would be made to the current interest rate range of 4.25 to 4.50 per cent.