Washington: US President Donald Trump renewed his demand Thursday for interest rate cuts, lashing out at Federal Reserve Chair Jerome Powell after the Federal Reserve's decision to keep interest rates unchanged.

According to Anadolu Agency, Trump criticized Powell on Truth Social, accusing him of "costing our Country Hundreds of Billions of Dollars." Trump went further to describe Powell as "one of the dumbest, and most destructive" individuals, contrasting the US situation with Europe by stating, "Europe has had 10 cuts, we have had none. We should be 2.5 Points lower."

The remarks from Trump followed the central bank's decision to maintain its benchmark federal funds rate within the 4.25% - 4.50% target range, aligning with market expectations. Trump has persistently urged the Federal Reserve to reduce interest rates, referencing actions by European central banks as a comparative measure and warning that failure to act could impede the US economy's growth.

In a further display of dissatisfaction, Trump labeled Powell as "stupid" on Wednesday and hinted at the possibility of appointing himself as Fed chair, expressing his discontent with Powell's management of the Federal Reserve.