President Donald Trump didn’t hold back Thursday when sharing his opinion of the Federal Reserve’s decision this week to hold interest rates steady for the first time since last July.

“Jerome ‘Too Late’ Powell again refused to cut interest rates, even though he has absolutely no reason to keep them so high,” the president wrote on Truth Social. “He is hurting our Country, and its National Security. We should have a substantially lower rate now that even this moron admits inflation is no longer a problem or threat.”

During his press conference Wednesday following the rate decision, which left the benchmark federal funds rate in a range of 3.5% to 3.75%, Fed Chair Powell offered a more nuanced take on the current state of consumer price inflation.

While acknowledging that upside risks to inflation and downside risks to employment have both “diminished” in recent months, he also cited the Fed’s assessment that annual inflation as measured by the personal consumption expenditures (PCE) price index stood at 2.9% in December, significantly above the central bank’s 2% target.

“We had 3% core PCE inflation over the 12 months ending in December,” Powell added, referring to the metric that strips out food and energy prices, “and that’s pretty much what we had the year before, so on net, no progress.”

Trump’s lengthy social media post — which touted the record $264 billion in tariff revenue the U.S. Treasury Department collected in 2025 — concluded with an all-caps declaration: “WE SHOULD BE PAYING LOWER INTEREST RATES THAN ANY OTHER COUNTRY IN THE WORLD!”

Considering Switzerland’s benchmark policy rate is currently set at 0%, Trump’s request is unlikely to be granted. But Powell’s successor as Fed chair will nonetheless be under pressure and scrutiny from Trump to heed his demands.

During a Cabinet meeting at the White House on Thursday, Trump said he will unveil his choice “next week” for the nominee to succeed Powell as central bank chief when his term expires in May.

“It will be a person that will, I think, do a good job,” Trump said, before reiterating his interest rate position and accusing Powell of being “politically biased.”

As of Thursday afternoon, the prediction market Kalshi gave former Fed Governor Kevin Warsh a slim edge over BlackRock fixed-income executive Rick Rieder as the most likely nominee. Polymarket put both Warsh’s and Rieder’s odds at 35%.

Fed Governor Christopher Waller, who dissented this week and voted for a 0.25% reduction to the fed funds rate, was a distant third on both platforms.