President Donald Trump intensified his criticism of Federal Reserve Chair Jerome Powell on Thursday, calling him a “numbskull” for refusing to cut interest rates.

Trump claimed a 2-point rate cut could save the U.S. $600 billion annually and suggested he might “force something” if the Fed doesn’t act.

His remarks followed a lower-than-expected rise in producer prices and echoed similar comments from Commerce Secretary Howard Lutnick and Vice President JD Vance, who also pressured the Fed to lower rates, CNBC has reported.

Despite the rhetoric, markets were largely unaffected, with traders still expecting no rate cut in the Fed’s upcoming meetings.

Written by B.C. Begley