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Wed, 29 Apr 2026

Wed, 29 Apr 2026 'Numbskull, moron and too stupid': Trump and Powell's biggest clashes

How the US President Donald Trump and Federal Reserve chair Jerome Powell came to blows.

* Donald Trump repeatedly attacked Federal Reserve chair Jerome Powell since returning to the White House, mainly due to interest rates not falling quickly enough.
* Trump initially praised Powell when he was nominated as Fed Chair in 2017, calling him "strong", "committed", and "smart".
* However, Trump later called Powell a "numbskull", "moron", "dummy" and "Too Late", criticizing his handling of interest rates and the renovation of Federal Reserve buildings.
* The two had face-to-face clashes over the cost of renovations, with Trump estimating it at $3.1bn and Powell saying it was actually $2.7bn.
* In January 2025, Powell released a video revealing that he was under investigation by the Department of Justice (DoJ) for perjury related to testimony on Fed building renovations.
* The DoJ later dropped the probe, but Republican Senator Thom Tillis said he would not support Trump's nominee, Kevin Warsh, as new Fed chair while the investigation continued.
* Powell remained largely silent about Trump and his remarks until January 2025, when he released a video revealing the investigation.