Trump says if Powell does not cut interest rates, the Federal Reserve Board should "take control"

President Donald Trump of the United States said that if Federal Reserve Chairman Jerome Powell does not lower interest rates, the Federal Reserve Board should "take control"; his ongoing dispute with Powell further escalated. "Jerome 'Big Delay' Powell, a stubborn fool, must cut rates big time, now! If he still refuses, the Board should take control and take the action that everyone knows must be taken!" Trump wrote on social media on Friday. The White House did not immediately respond to requests for comment on Trump's remarks. Before Trump made the above remarks, Federal Reserve officials on Wednesday kept interest rates unchanged but lowered their outlook for the U.S. economy, suggesting policymakers may be close to lowering borrowing costs. Trump, after briefly showing mercy to Powell, once again sharply criticized him.