In a recent post on Truth Social, President Donald Trump urged Jerome Powell, the chair of the Federal Reserve, to resign "immediately", ramping up his long-standing criticism of Powell's handling of interest rates. Trump expressed his dissatisfaction, primarily blaming Powell for not lowering rates to spur economic growth. This demand comes following comments from Powell regarding the impact of Trump's own tariff policies on interest rate decisions. While Trump appointed Powell during his presidency, the legal framework surrounding the dismissal of Fed chairs creates complexities.
Trump Demands Resignation of Federal Reserve Chair Amid Ongoing Criticism
Trump Demands Resignation of Federal Reserve Chair Amid Ongoing Criticism
President Trump escalates his rhetoric against Jerome Powell and calls for an immediate resignation, igniting debates surrounding the roles of political influence and independent regulatory practices.
The backdrop of this demand includes a call from the Federal Housing Finance Agency’s director for an investigation into Powell's allegedly misleading Senate testimony. Powell's position remains solid, as he has resisted pressure to step down, having stated earlier this year that it was legally not permissible for the president to remove him without cause. Political analysts and lawmakers are observing these developments closely, analyzing the implications of Trump's continued confrontations with independent regulatory bodies.
