Trump Slams Jerome Powell Again, Says Fed Chair Should Step Down
President Donald Trump has reignited his criticism of Federal Reserve Chairman Jerome Powell, publicly urging him to step down over what he calls a harmful interest rate strategy.
Once a Trump appointee, Powell is now being branded by the president as a “stubborn mule” whose policies, he says, are costing the country billions.
In a recent statement, Trump claimed the U.S. should be paying just 1% interest on its debt, but instead is burdened with higher rates due to what he called Powell’s “Trump Derangement Syndrome.” He argued that Powell’s caution on rate cuts is sabotaging economic growth, especially as Trump pushes for expanded government spending and new tax cuts.
Trump’s frustration isn’t new. He’s long advocated for aggressively lower interest rates, arguing they fuel growth and ease debt costs. However, his latest criticism comes with added urgency as he looks ahead to replacing Powell when his term ends in May 2026.
Despite the pressure, Powell has maintained a steady course, warning that premature rate cuts could reignite inflation. While the Fed made multiple rate reductions last year, it has paused since December, citing strong labor markets and lingering inflation risks as reasons for restraint.
The Fed’s stance has sparked disagreement from Trump allies, including businessman Grant Cardone, who recently called for Powell’s resignation on social media, claiming high rates are punishing American families.
As speculation grows about who Trump might tap as a potential replacement—names like former Fed Governor Kevin Warsh have surfaced—the political battle over interest rate policy is once again at the center of Washington’s economic debate.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
