White House: Trump is Studying Whether he Can or Cannot Fire Jerome Powell
Tensions between Donald Trump and Federal Reserve Chairman Jerome Powell have reached new heights, with the former president now openly questioning whether he has the authority to remove Powell from his post.
According to the information White House economic adviser Kevin Hassett said on Friday that President Donald Trump is actively reviewing whether to remove Federal Reserve Chair Jerome Powell—a move that would break with long-standing norms of central bank independence.
“The president and his team will continue to study that matter,” Hassett told reporters when asked if firing Powell was on the table.
Hassett’s comments came just one day after Trump reignited tensions with Powell, accusing him of “playing politics” by refusing to cut interest rates. Trump added that he could “fire Powell real fast,” escalating concerns about potential White House interference in Fed policy.
Trump’s latest remarks were triggered by Powell’s recent speech at the Economic Club of Chicago, where the Fed Chair expressed a cautious stance on adjusting interest rates. Trump, who has long favored lower rates to boost economic growth, contrasted Powell’s inaction with the European Central Bank’s aggressive cuts.
“Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now,” Trump posted. He added that oil and grocery prices are down and the U.S. is “getting RICH ON TARIFFS,” arguing that the time for a rate cut is now.
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.
