Trump Calls for Fed Chair Powell’s Termination: ‘Too Late and Wrong!’
Nidhi Kolhapur17 Apr 20252 min read
President Donald Trump strongly criticized Federal Reserve Chair Jerome Powell on Thursday, accusing him of being slow and ineffective for not cutting interest rates sooner. According to Trump, the Fed should have acted earlier to support the U.S. economy.
Europe Is Ahead, Powell Is Behind
Trump pointed out that the European Central Bank has already lowered interest rates several times, while Powell has hesitated. In a social media post, Trump mentioned that prices for oil and groceries—including eggs—have dropped, and he credited U.S. tariffs for helping the economy.
He insisted that Powell should have cut rates earlier, but stressed that the Fed still needs to act now. Trump also expressed his frustration with Powell’s leadership, even calling for his removal: “Powell’s termination cannot come fast enough!”
Powell Urges Caution, Warns About Tariffs
On Wednesday, Powell gave a speech at the Economic Club of Chicago, where he said the Fed would wait for more economic data before making any changes to interest rates. He also warned that the government’s tariff policies could hurt job growth.
Powell said the recent market swings are a natural response to changing trade policies and not something that requires Fed intervention at the moment.
“For the time being, we are well positioned to wait for greater clarity before considering any adjustments to our policy stance,” Powell said in his speech to the Economic Club of Chicago.
Inflation Worries Add to the Tension
Powell also warned that U.S. tariffs could lead to higher inflation, which would result in consumers paying more. Trump quickly dismissed Powell’s message, calling his report “a complete mess.”
He warned that the Fed could soon face a tough choice—either fight rising inflation or deal with increasing unemployment—because of the extensive tariffs. This back-and-forth has only added more strain to the already tense relationship between the White House and the Fed during a highly political economic period.
Markets Feeling the Pressure
Trump’s aggressive and unpredictable tariff policies have made investors and trade partners nervous about their impact on global trade. While Trump continues to pressure the Fed to lower rates, the central bank has kept interest rates steady between 4.25% and 4.5% since the start of the year.
As the Fed holds its ground and the White House turns up the heat, the road ahead for U.S. economic policy looks troubled. We’ll keep you updated.
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