It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System,” Kugler wrote in a resignation letter to Trump on Friday. “I am especially honored to have served during a critical time in achieving our dual mandate of bringing down prices and keeping a strong and resilient labor market.

“Jerome ‘Too Late’ Powell, a stubborn MORON, must substantially lower interest rates, NOW,” Trump posted to his Truth Social account. “IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!” A couple of hours later, Trump again called on Powell to cut interest rates.