WASHINGTON (TNND) — President Donald Trump expressed more ire with Fed Chair Jerome Powell on Friday and called for the Federal Reserve's board to seize control of the U.S. central bank after Powell didn't cut short-term interest rates.

Trump called Powell a "stubborn MORON" on Truth Social and said that if he "CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!"

The Federal Reserve announced Wednesday it will hold interest rates steady for now, with Powell saying officials need to see what impact Trump's tariffs have on inflation.

Powell said survey data tells them "companies feel that they have every intention of putting this through to the consumer, but you know, the truth is, they may not be able to in many cases.”

I think we’ve learned that the process will probably be slower than expected at the beginning, but we never expected it to be fast, and we think we have a long way to go to really understand exactly how we’ll be," Powell added.

Attacks from the Republican president on Powell have intensified in recent weeks, with Trump recently scrutinizing the years-long renovation of the Fed's Marriner S. Eccles Building and the 1951 Constitution Avenue Building in Washington. The project has run about $600 million over the original budget and is now expected to cost $2.5 billion.

Though Powell cannot unilaterally lower rates, Trump has squarely blamed him for the unchanged policy, giving him the moniker "Too Late."

Two of the seven Fed governors, Christopher Waller and Michelle Bowman, issued statements Friday saying they see the tariffs as having a one-time impact on prices and the job market as most likely softening. As a result, the two dissented at the Fed meeting on Wednesday and pushed for slight rate cuts relative to what Trump was seeking.

Even though Trump, who nominated Waller and Bowman, has claimed the U.S. economy is booming, he welcomed their arguments and what he called their strong dissents.

Friday's job report from the Labor Department showed employers added just 73,000 positions to their payrolls compared to the 100,000 forecasters expected in July.

Trump told White House reporters in April that he did not intend to remove Powell.

In May, the Supreme Court said Trump could not remove Powell for policy disagreements. This led the White House to investigate whether the Fed chair could be fired for cause because of the cost overruns in the Fed's $2.5 billion renovation projects.

Powell's term as chair ends in May 2026, at which point Trump can put his Senate-confirmed pick in the seat.

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Editor's note: The Associated Press contributed to this article.