U.S. President Donald Trump criticized Federal Reserve Chair Jerome Powell on Thursday for what he perceives as delays in cutting interest rates.

Speaking at the CEO Summit of the APEC grouping in Gyeongju, South Korea, Trump referred to the central bank chief as "Jerome ’Too Late’ Powell," drawing laughter from the audience of corporate executives and leaders.

"We’re not going to have a Fed that’s going to raise interest rates because they’re worried about inflation in three years from now," Trump said, in what appeared to be an acknowledgment that inflation could eventually accelerate.

The president expressed optimism about U.S. economic growth, predicting a 4% expansion in the first quarter of 2026.