Ankara: US President Donald Trump said Wednesday that Federal Reserve Chair Jerome Powell should lower interest rates, saying they are three points "too high."

According to Anadolu Agency, Trump again referred to Powell as "Too Late," criticizing him for being slow to reduce the rates while other central banks have already begun their easing cycles. Trump emphasized that this delay is costing the U.S. $360 billion per point each year in refinancing costs, highlighting that there is no inflation, and companies are investing heavily in America. He declared the U.S. as "the hottest Country in the World" and urged for a rate cut.

In a separate social media post, Trump expressed his dissatisfaction with Powell by stating, "ANYBODY BUT 'TOO LATE.'" The president has persistently demanded reductions in the Fed's interest rate, pointing to European central banks as examples and warning that any delays could hinder the US economy's growth.

Last week, Trump went as far as suggesting that Powell should "resign immediately." He has previously used harsh terms to describe the Fed chair, calling him "terrible," "a fool," "a major loser," and a "numbskull."

The Wall Street Journal reported Tuesday that Trump is considering White House economic adviser Kevin Hassett as a significant contender to be the next Fed chair. Powell's tenure is set to conclude next May.