President Donald Trump cited new inflation data in continuing to pressure Federal Reserve Chair Jerome Powell to lower interest rates, calling him a "numbskull" but adding that he won't seek to remove him.

President Donald Trump’s attack on Powell over interest rates came after Vice President JD Vance and Commerce Secretary Howard Lutnick also targeted him.

President Donald Trump repeated his criticism of Federal Reserve Chair Jerome Powell as being "too late" in cutting interest rates, while inflation remains above the 2% target.

The president met with Federal Reserve Chair Jerome H. Powell for the first time this term, after publicly pressuring him last month to slash interest rates.

The Federal Reserve said that Jerome Powell met with Donald Trump Thursday 'at the president’s invitation,' and the White House said the president told the central bank boss that he is making a mistake by not lowering rates.

Vice President J.D. Vance said the Federal Reserve is committing "monetary malpractice" for not cutting rates. In a post on X, Vance argued that the soft May CPI data gave the Fed room to ease. He noted that President Donald Trump has been pushing for a cut for some time.