--- title: "Trump Mocks Biden's Fed Board After Powell's Jackson Hole Speech, Labels Chair 'Too Late,' Puts Red X On Cook As President Teases Top Successor" description: "President Trump intensified his conflict with the Federal Reserve, mocking Chair Jerome Powell and threatening to fire Governor Lisa Cook. He labeled Powell as 'Too Late' for his delayed rate cuts and" type: "news" locale: "en" url: "https://longbridge.com/en/news/254267895.md" published_at: "2025-08-23T08:30:12.000Z" --- # Trump Mocks Biden's Fed Board After Powell's Jackson Hole Speech, Labels Chair 'Too Late,' Puts Red X On Cook As President Teases Top Successor > President Trump intensified his conflict with the Federal Reserve, mocking Chair Jerome Powell and threatening to fire Governor Lisa Cook. He labeled Powell as 'Too Late' for his delayed rate cuts and marked Cook with a red 'X' amid mortgage fraud allegations. Trump's graphic divided Fed officials into Biden and Trump camps, with Christopher Waller emerging as a frontrunner for Powell's replacement. Following Powell's dovish speech, markets rallied, with significant gains in equities and cryptocurrencies, as expectations for September rate cuts grew. President **Donald Trump** escalated his Federal Reserve confrontation Friday, threatening to fire Governor **Lisa Cook** while mocking Chair **Jerome Powell** as “Too Late” in a Truth Social post that divided Fed board members into opposing camps. ## Trump’s Fed Board Divide Graphic Sparks Market Attention Trump shared an image dividing Federal Reserve officials into camps aligned with former President Joe Biden versus those siding with him. Powell, whom Trump originally appointed as Fed Chair in 2018, earned the “Too Late” label referencing his delayed rate cut timing, while Cook received a prominent red “X” marked “The Fraudster.” The graphic positions Trump appointees **Christopher Waller**, **Michelle Bowman** and nominee Stephen Miran as administration allies. This comes as markets price in September rate cuts following Powell’s dovish Jackson Hole speech that sparked broad rallies across equities and cryptocurrencies. ## Cook Mortgage Controversy Intensifies DOJ Review Cook faces mortgage fraud allegations from Federal Housing Finance Agency Director **William Pulte**, who claims she improperly designated properties as primary residences for favorable loan terms in 2021. “I’ll fire her if she doesn’t resign,” Trump told reporters Friday. Cook previously stated she has “no intention of being bullied to step down.” ## Waller Emerges as Powell Replacement Frontrunner Prediction markets show Waller leading Fed Chair succession odds at 51% on Kalshi, ahead of **Kevin Hassett** (30%) and **Kevin Warsh** (24%). Waller dissented at July’s Federal Open Market Committee meeting, advocating immediate 25-basis-point cuts while Powell held rates steady. His proactive stance aligns with Trump’s preference for a forward-looking monetary policy. “When labor markets turn, they often turn fast,” Waller stated, warning against falling behind the curve with GDP growth at just 1.2% in 2025’s first half. ## Market Implications for Rate-Sensitive Sectors Powell’s Jackson Hole pivot triggered significant moves across asset classes. The Dow Jones jumped 2% to new highs above 45,680, while the S&P 500 climbed 1.4% and the Russell 2000 soared nearly 4%. **Bitcoin** BTC/USD gained 3.5%, with **Ethereum** ETH/USD, **Solana** SOL/USD and **Cardano** ADA/USD posting double-digit gains as crypto markets entered “risk-on” mode. Rate-sensitive sectors, including homebuilders, small caps, and regional banks, rallied sharply on accommodation expectations. Goldman Sachs‘ **Jan Hatzius** sees Powell’s remarks as “consistent with our expectation of a 25bp cut at the September FOMC meeting.” - **Trump Touts ‘Incredible’ Tariff Strategy After Congressional Budget Office Projects $4 Trillion Deficit Cut, Even As Economists Warn Of Slower Growth** *Photo Courtesy: eamesBot on Shutterstock.com* ***Disclaimer:** This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.* ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Codeifai Enters AI-Backed Quantum Security Market | Codeifai Ltd :CODEIFAI ENTERS AI-BACKED QUANTUM SECURITY MARKETCOMPLETION OF ACQUISITION OF ANTENNATRANSFER.IOTOTAL CONS | [Link](https://longbridge.com/en/news/276015719.md) | | Olympics-Figure skating-U.S. Figure Skating won't appeal Chock and Bates ice dance results | U.S. Figure Skating will not appeal the ice dance results from the Milano Cortina Games, where Madison Chock and Evan Ba | [Link](https://longbridge.com/en/news/276012027.md) | | Olympics-Curling-As double touching drama continues at Games, curlers are open to video review | As controversy over double touching stones continues in curling at the Winter Olympics, players express openness to vide | [Link](https://longbridge.com/en/news/276010244.md) | | ICICI Securities Reaffirms Their Buy Rating on Aurobindo Pharma Ltd (AUROPHARMA) | In a report released today, from ICICI Securities maintained a Buy rating on Aurobindo Pharma Ltd, with a price target o | [Link](https://longbridge.com/en/news/276010991.md) | | Anthropic and the Pentagon are reportedly arguing over Claude usage | The Pentagon is urging AI companies, including Anthropic, to permit military use of their technologies for lawful purpos | [Link](https://longbridge.com/en/news/276013580.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.