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 has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
