Federal Reserve Chairman Jerome Powell is infuriating President Donald Trump by not moving to further cut interest rates, in contrast to aggressive easing by the European Central Bank.

The central bank cut by a quarter of a percentage point to cushion Europe’s flagging economy from Trump’s trade war.

Donald Trump has attacked the head of the US central bank for not cutting interest rates, stating that Jerome Powell's "termination cannot come fast enough!". The US president took to social media to renew his criticism of Powell ahead of the third interest rate cut this year by European Central Bank (ECB).