President Donald Trump is escalating his attacks on Federal Reserve Chair Jerome Powell after the Fed held interest rates steady this week. Trump posted that the Federal Reserve Board "should assume control" if Powell continues to refuse to cut rates.

President Donald Trump called on the Federal Reserve board to “assume control” if Chair Jerome Powell does not lower interest rates, escalating his ongoing feud with the central bank’s head.

President Donald Trump on Friday called for the Federal Reserve’s board of governors to usurp the power of Fed Chair Jerome Powell, criticizing the head of the U.S. central bank for not cutting short-term interest rates.