President Donald Trump launched a fresh attack on Fed Chair Jerome Powell a day after the central bank held interest rates steady.

\\"Jerome 'Too Late' Powell again refused to cut interest rates, even though he has absolutely no reason to keep them so high,\\" he said in a Thursday morning social media post.

He sprayed familiar criticisms at the Fed, arguing that keeping interest rates high is expensive for the U.S. due to higher interest payments.

Trump's salvo came following the Fed's decision to keep borrowing costs level in its first meeting of 2026 despite enormous pressure from the executive branch to lower them. Benchmark interest rates stand between 3.5% and 3.75%.

Fed officials maintain that the U.S. economy remains on solid footing, even as the president's tariffs inject plenty of uncertainty into economic activity.

\\"Economic activity has been expanding at a solid pace,\\" a Tuesday statement from the Fed said. \\"Job gains have remained low, and the unemployment rate has shown some signs of stabilization. Inflation remains somewhat elevated.\\"

Powell is under investigation from the Department of Justice over testimony he delivered to senators about ongoing renovations at the Fed's headquarters. Still, he declined to address the probe and kept the focus on the U.S. at a Wednesday press conference.

\\"The economy has once again surprised us with its strength, not for the first time,\\" Powell said.

Powell can't single-handedly cut interest rates. That task falls on the 12-member Federal Open Market Committee. Powell does chair the FOMC, but they must reach a majority consensus on which direction to adjust interest rates.

Powell's term is up in May, and Trump is still deciding who will replace a Fed chair that he has come to despise.