Trump Calls for Powell’s “Termination,” Criticizes Fed’s Interest Rate Policy

President Donald Trump publicly criticized Federal Reserve Chair Jerome Powell, stating that Powell’s departure from his position “cannot come fast enough,” as per Bloomberg.

Trump argued that the Fed should have already lowered interest rates this year and should do so immediately.

Trump, using the dismissive nickname “Too Late” for Powell, whom he nominated during his first term, posted on his Truth Social platform Thursday morning.

“Powell’s termination cannot come fast enough!” Trump wrote, expressing his frustration with the current interest rate levels.

It remains unclear whether Trump was referring to the scheduled end of Powell’s term or if he was advocating for Powell’s immediate removal as chair. The White House has not yet responded to requests for clarification.

Powell’s term as Fed chair extends until May 2026, while his term as a governor continues until February 2028. Historically, it has been understood that the Fed operates with a degree of independence from the White House.

Trump’s ability to remove high-ranking officials from agencies traditionally considered independent has been a subject of increased scrutiny in recent months. During his administration, senior officials were dismissed from the Federal Trade Commission, the National Labor Relations Board, and the Merit Systems Protection Board, raising concerns about the erosion of agency independence.