Trump calls Powell "stupid" and again asks him to lower rates to 2%.

In the U.S., "we no longer have inflation. We only have success, and I would like to see interest rates reflect that level now," the president said.

US President Donald Trump on Wednesday stepped up his attacks on Federal Reserve Chairman Jerome Powell , accusing him of being "politically motivated," and reiterated his call for a 2% interest rate cut , hours before the Fed is expected to announce its decision.

"Frankly, we have a moron at the Federal Reserve who probably won't cut rates today. Europe had 10 cuts, and we had none. And I guess he's politically motivated. He's costing the country dearly," Trump said in an exchange with reporters on the White House lawn.

The Republican has repeatedly urged the Fed to lower its interest rates, which currently remain in a range of 4.25% to 4.5%. He has also intensified his criticism of Powell, whom he has dubbed "Tardy" for failing to act on what he considers "excellent" economic indicators in his second administration.

In the U.S., "we no longer have inflation. We only have success , and I would like to see interest rates reflect that level now," said the president, who called for a rate cut of "2% or perhaps even 2.5%."

Meanwhile, Powell has reiterated the independence of the organization , which will announce today whether it will change or keep rates stable, following the end of the Federal Open Market Committee's (FOMC) fourth meeting of the year.

With the Fed's inaction, Trump's frustration with its leader has increased. "I've been calling him (Powell) every way I can, trying to get him to do something," he acknowledged Wednesday.

"Maybe I should go to the Federal Reserve . Can I appoint myself chairman of the Federal Reserve? I'd do a much better job than those people," he said.

At their previous meeting, on May 6 and 7, the Fed again left rates at their current range. Powell then made it clear that the Republican leader's insistence would not affect his decision-making.

At the time, he admitted that uncertainty is "extremely high" due to the tariff war launched by the Trump administration, but also that there is no need to rush because "the costs of doing nothing are low."