Trump Talks About Jerome Powell’s Termination, Demands Fed Rate Cut Now
Donald Trump is once again turning up the heat on Federal Reserve Chairman Jerome Powell. In a fiery Truth Social post Thursday, the former president slammed Powell for not slashing interest rates and even hinted it may be time for his removal.
Calling him “Too Late Jerome,” Trump claimed Powell is consistently behind the curve. “Powell’s termination cannot come fast enough,” he wrote, criticizing a recent Fed report as a “complete mess.”
Trump pointed to the European Central Bank’s aggressive rate cuts, noting they’ve already slashed interest rates six times—with a seventh expected shortly. In contrast, the Fed has stayed cautious, balancing inflation concerns with slowing growth.
“Oil is down, groceries are down, tariffs are working,” Trump argued. “Rates should’ve been lowered long ago—and must be lowered now.”
Powell Stays the Course Despite Political Heat
Just one day earlier, Powell spoke at the Economic Club of Chicago. He acknowledged tariffs complicate the Fed’s policy decisions but emphasized the need for a careful approach.
“If that were to occur,” Powell said, referencing possible economic shifts, “we would consider how far the economy is from each goal.”
That cautious tone didn’t sit well with Trump—or the markets. The speech triggered a sharp market sell-off, as investors digested the uncertainty surrounding future Fed moves.
A First: Trump Mentions Firing the Fed Chair
While Trump has criticized Powell before, this marks the first time he’s floated the idea of firing him outright. Legally, however, Powell can’t be dismissed by the president—a point he’s publicly affirmed in the past.
As Trump continues to push for more aggressive economic measures ahead of the 2024 election, Powell finds himself once again in the political spotlight.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
