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President Trump Criticizes Federal Reserve Chair Jerome Powell Over High Interest Rates

President Trump called Federal Reserve Chair Jerome Powell (head of the U.S. central bank) a "disaster for America" and said interest rates are "too high" as the 10-year U.S. Treasury yield approached 4.50% and average new 30-year mortgage rates moved above 6.5%.

Fact Check
The claim is corroborated by overwhelming and consistent evidence. The KobeissiLetter post (the original linked source) explicitly reports Trump called Powell a 'disaster for America' and said rates are 'too high,' with the 10Y yield near 4.50% and 30Y mortgage above 6.5%. This is independently confirmed by Quds News Network, Global Lens, Crescent Desk, and dozens of other accounts all timestamped May 4, 2026 — within minutes of the claim's collection time. Multiple accounts quote Trump's exact Truth Social language: 'Too Late is a DISASTER for America! Interest Rates too high!' CNN's April 2026 reporting establishes prior context of Trump calling Powell a 'disaster' and threatening to fire him. The interest rate figures cited are consistent with financial market data from early-to-mid 2026. No conflicting evidence was found.
Summary

President Trump said Federal Reserve Chair Jerome Powell (head of the U.S. central bank) is a "disaster for America" and argued that interest rates are "too high." The statement came as the 10-year U.S. Treasury note yield neared 4.50% and the average rate for a new 30-year mortgage rose above 6.5%. In financial markets, Treasury yields influence borrowing costs across the economy, including mortgage rates, making rate policy and bond-market moves closely watched by crypto investors alongside traditional markets.

Terms & Concepts
  • 10-year U.S. Treasury note yield: The return investors demand to hold 10-year U.S. government debt; it is a benchmark that affects borrowing costs across financial markets.
  • Federal Reserve: The U.S. central bank, which sets monetary policy and influences interest rates, liquidity, and broader financial conditions.
  • 30-year mortgage rate: The interest rate charged on a standard 30-year home loan, often influenced by Treasury yields and broader credit-market conditions.