WASHINGTON — U.S. President Donald Trump on Friday called for the Federal Reserve’s board of governors to usurp the power of Fed Chair Jerome Powell, criticizing the head of the U.S. central bank for not cutting short-term interest rates.

U.S. President Donald Trump said on Friday the Federal Reserve board should assume control if Fed Chair Jerome Powell continues to refuse to lower interest rates. "Jerome 'Too Late' Powell, a stubborn MORON,

The Federal Reserve left its key short-term interest rate unchanged for the fifth time this year, brushing off repeated calls from U.S. President Donald Trump for a cut.