Trump Blasts Powell — Fed Chair Defiant
Trump Blasts Powell — Fed Chair Defiant
President Donald Trump on Thursday again called for the Federal Reserve to lower rates and even hinted at the “termination” of Chair Jerome Powell.
In a Truth Social post, Trump said:
“The ECB is expected to cut interest rates for the 7th time, and yet, ‘Too Late’ Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete ‘mess!’ Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!”
Indeed, the European Central Bank has been cutting rates as it tries to boost growth in the region. The ECB lowered rates again later Thursday.
To be sure, a senior White House official told CNBC that the post should not be seen as a threat to fire Powell, but rather as a reinstatement of Trump’s frustrations with the Fed chief.
The post comes a day after Powell delivered a speech at the Economic Club of Chicago in which he noted that the administration’s tariffs put the central bank in a tricky spot as it decides whether to tame inflation or boost growth.
“If that were to occur, we would consider how far the economy is from each goal, and the potentially different time horizons over which those respective gaps would be anticipated to close,” Powell said. Those comments contributed to a steep sell-off on Wednesday.
This is not the first time Trump has criticized Powell’s approach to U.S. monetary policy. Trump posted on April 4, two days after the administration’s “Liberation Day” tariff announcement, that it would be “a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always ‘late,’ but he could now change his image, and quickly.”
However, it is the first time Trump has explicitly called for Powell’s firing. Powell has said the president does not have the power to fire him, noting that it is “not permitted under the law.”
Powell’s term as Fed chair ends in May 2026.
India Launches Missile Strikes Against Pakistan
May 7, 2025
5 min
US and China to Hold Trade Talks in Switzerland This Weekend
May 7, 2025
2 min
Supreme Court Allow Trans Military Ban
May 7, 2025
3 min
GOP Senator Kills Trump’s Pick for DC US Attorney
May 7, 2025
5 min
Top Takeaways from Trump’s Meeting with Canada’s Mark Carney
May 7, 2025
5 min
UC Berkeley Stabbing: Police Hunt 3 Suspects
May 7, 2025
<1 min
House Report: FBI ‘butchered’ 2017 congressional baseball shooting probe
May 7, 2025
8 min
Friedrich Merz Wins 2nd Vote to Become Germany's Leader
May 7, 2025
4 min
Trump: Houthis ‘Don’t Want to Fight Anymore,’ US Will Stop Bombings
May 6, 2025
3 min
Trump Ordered To Admit Thousands Of Refugees
May 6, 2025
3 min
Israeli Military Fully Disables Yemen’s Main Airport with Strikes
May 6, 2025
2 min
Hegseth Orders 20% Cut of Top Pentagon Generals
May 6, 2025
1 min
Paul Tudor Jones: Stock Market Will Hit New Lows Even If Tariffs Cut
May 6, 2025
1 min
IDENTIFIED: Lady Gaga Bomb Suspect Was Deported From US Last Month
May 6, 2025
2 min
‘Landmark Study’ Led by UNLV Shows New Path to Treat, Prevent Autism
May 6, 2025
3 min
Army Suspends Blackhawk Flights to Pentagon After New Scare
May 6, 2025
2 min
Newark Airport Lost Radar and Radio Communication with Pilots for 90 Seconds
May 6, 2025
3 min
Brian Kemp Won’t Run for US Senate in 2026
May 6, 2025
2 min
Trump to Super-Charge Deportations Using Local Cops
May 6, 2025
2 min
Mike Myers, Michael B. Jordan First Celebs Named in Diddy Trial
May 6, 2025
3 min