By George Glover

U.S. President Donald Trump said the Federal Reserve should follow the example set by the European Central Bank Thursday as he stepped up his criticism of Chair Jerome Powell.

"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'...Powell's termination cannot come fast enough!" Trump said in a post on Truth Social.

The ECB is expected to lower borrowing costs by a quarter of a point Thursday, while investors think there's an 84% chance that the Fed will hold rates at their current level when its next meeting ends in May, according to the CME FedWatch tool.

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April 17, 2025 07:44 ET (11:44 GMT)

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