Trump steps up attacks on Fed’s independence amid interest rates row

US president called on top Fed officials to seize control from chair Jerome Powell if he fails to cut interest rates

Donald Trump called on top Federal Reserve officials to seize control from its chair, Jerome Powell, if he fails to cut interest rates, stepping up his extraordinary attacks on the central bank's independence.

The US president called Powell a stubborn MORON" in a series of critical social media posts on Friday, days after the Fed held rates steady for the fifth consecutive time.