Trump lashes out at Powell over rate decision with stream of insults

Driving the news: The Fed left interest rates unchanged Wednesday, keeping them in a range of 4.25% to 4.5% and suggesting caution on any further cuts this year.

• Trump has repeatedly insisted rates should be lower, down to 1% or less.

What they're saying: "He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair," Trump said in a Truth Social post.

• "He is costing our Country TRILLIONS OF DOLLARS, in addition to one of the most incompetent, or corrupt, renovations of a building(s) in the history of construction!"
• Powell has taken little public notice of Trump's long series of personal insults, and repeatedly insisted he was focused on doing his job.

Flashback: Earlier this month, the administration set up the issue of cost overruns in the $2.5 billion headquarters renovation project as a possible pretext to firing Powell for cause.

• That led to the unusual spectacle of Trump and Powell touring the building together in hard hats last week, later arguing in front of the cameras about which projects were even included in the overruns.

Editor's note: This is a developing story.