Trump Calls for Firing of Fed’s Jerome Powell – ‘Termination’ Demand Sparks Debate

Former President Donald Trump escalated his long-running feud with Federal Reserve Chair Jerome Powell on Thursday, publicly calling for the central bank chief’s “termination” in a blistering social media post that challenges the Fed’s traditional political independence.

In a post on his Truth Social platform, Trump seized on expectations that the European Central Bank (ECB) will cut interest rates, contrasting it with the Fed’s current policy stance. “Jerome Powell is always TOO LATE AND WRONG,” Trump wrote, using his characteristic all-caps style.

The former president pointed to falling oil and grocery prices—including eggs—as evidence that the Fed should already be cutting rates, while boasting that “the USA is getting RICH ON TARIFFS.” His remarks appeared to reference his proposed trade policies, including steep import duties, as a counterbalance to monetary policy.

“Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now,” Trump continued. “Powell’s termination cannot come fast enough!”

The extraordinary broadside marks Trump’s most direct challenge yet to the Fed’s independence, a norm that presidents of both parties have generally respected for decades. While sitting presidents have occasionally criticized Fed policy, outright calls for a chair’s removal are rare and risk rattling financial markets.

Trump appointed Powell as Fed chair in 2018 but later turned against him as interest rates rose. Under current law, a Fed chair can only be removed “for cause,” a high legal bar meant to insulate monetary policy from political interference.

The outburst comes as the Fed weighs its next move on interest rates amid cooling inflation. Powell has emphasized that decisions will be data-driven, not politically influenced.

This is a developing story. Updates will follow as more information becomes available.