President Donald Trump sharply criticized Federal Reserve Chair Jerome Powell after the Fed kept interest rates steady, calling him “destructive” and blaming him for costing the U.S. “hundreds of billions of dollars” by not cutting rates.

Trump claimed rates should be 2.5 points lower to save billions on Biden’s short-term debt and labeled Powell a “real dummy” on social media.

Despite Powell’s stance to wait before adjusting policy, Trump accused him of being politically motivated and suggested he could do a better job leading the Fed, CNBC has reported.

Trump also said he plans to announce his pick for the next Fed chair soon.

Written by B.C. Begley