President Donald Trump called on the Federal Reserve board to “assume control” if Chair Jerome Powell does not lower interest rates, escalating his ongoing feud with the central bank’s head.

President Donald Trump is calling for the Federal Reserve’s board of governors to usurp the power of Fed Chair Jerome Powell.

In the press conference following the Fed’s decision to keep rates unchanged, Powell hesitated to guide toward a rate in the coming months. He struck a hawkish tone, according to a note by Bank of America’s macroeconomics team, putting a damper on investor hopes that the FOMC’s next meeting in September could bring a rate cut.