Trump mentioned "Jerome 'Too Late' Powell" in his speech in South Korea

causing laughter from business executives and leaders attending the APEC summit

"We will not let the Federal Reserve raise interest rates because of worries about inflation three years from now."

This remark may suggest he acknowledges that inflation could ultimately accelerate. He predicts the U.S. economy will achieve 4% growth in the first quarter of 2026, far above the median forecast of economists surveyed by Reuters.

Thursday's comments highlighted the tension between Trump and the Federal Reserve

Trump criticized Powell for not cutting rates quickly

saying that the Federal Reserve is behind its European counterparts, damaging business confidence