Washington DC - President Donald Trump blasted Federal Reserve chairman Jerome Powell on Thursday for not lowering interest rates, complaining that he is "always TOO LATE AND WRONG."

"Powell's termination cannot come fast enough," Trump wrote on his Truth Social platform. "Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now."

The central bank's chair warned on Wednesday that Trump's sweeping tariffs on virtually every trade partner could put the Fed in the difficult position of having to choose between tackling inflation and unemployment.

Trump's stop-start tariff policy has unnerved investors and trading partners unsure about the long-term strategy, and what it might mean for international trade. The unprecedented levies announced start of the month – and then partially rolled back – have already wreaked havoc on global markets.

Donald Trump Trump approval rating sits below all post-World War II presidents in new Gallup poll

The president, who cannot legally fire Powell, has repeatedly urged him to cut interest rates, but the US central bank has adopted a wait-and-see attitude, holding interest rates steady at 4.25 to 4.5% since the start of this year.

High interests rates have been a persistent bugbear of Trump's, and his disdain for Powell dates back to his first term, despite being the one who appointed the former investment banker as chairman of the Fed to begin with.