Fed Showdown: Trump Calls for Powell’s Exit Over Delayed Moves
U.S. President Donald Trump takes issue with Federal Reserve Chair Jerome Powell, asserting the central bank leader is “always too late and wrong.” Trump insists Powell should cut the federal funds rate immediately, declaring that his “termination cannot come fast enough.”
During a week rattled by market volatility, U.S. President Trump repeatedly turned to Truth Social to expound on his tariff agenda. On Wednesday, he called it a “great honor” to meet with the Japanese delegation on trade and declared that “big progress” was underway. That same day, Federal Reserve Chair Jerome Powell addressed the Economic Club of Chicago, cautioning that fresh trade measures could jolt the U.S. economy.
The very next day, Trump took to Truth Social and complained about Powell’s so-called tardiness when it comes to policy decision-making at the central bank. “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,” the U.S. President wrote.
Trump added:
“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!”
This is hardly Trump’s maiden rebuke of Powell on Truth Social. In the first week of April, he voiced a comparable critique, though he stopped short of calling for the chair’s dismissal in that specific post. Within the post, he emphatically implored Powell to lower the federal funds rate, urging him to “stop playing politics.”