Trump Hints at Dismissal of Jerome Powell
(MENAFN) On Tuesday, U.S. President Donald Trump directed sharp criticism at Federal Reserve Chairman Jerome Powell, questioning his leadership and implying that his tenure at the central bank may soon conclude.
Speaking to Congressional Republicans during a gathering at the White House, Trump remarked, "He's not doing a good job and...he's only going to be there for a short while, not going to be there much longer."
Trump described the current head of the Federal Reserve in harsh terms, stating the United States has a "terrible" leader in that position. He further referred to Powell as a "stiff" and a "knucklehead."
These remarks highlight Trump's long-standing dissatisfaction with Powell’s policies and decision-making.
Initially nominated by Trump himself in 2017 and later reappointed by President Joe Biden in 2022, Powell has frequently found himself the subject of Trump’s public frustration.
During his presidency, Trump openly urged Powell to lower interest rates, a move he believed was essential for boosting the American economy.
Trump went on to criticize Biden for keeping Powell in the role, admitting he initially treated Powell kindly but later concluded, "the guy is just not a smart person. Shouldn't have been there."
He added, "I blame myself, in a way, for that, but I blame Biden for extending (his term)."
Trump expressed shock over the administration’s decision to retain Powell, claiming, "I think they extended him because they knew how much I couldn't stand him, so they did it for that reason."
Continuing his long-running demand for reduced interest rates, Trump pointed to actions taken by the European Central Bank, which has lowered its key rate multiple times across 2024 and 2025.
He warned that the Federal Reserve’s hesitation in following suit might hinder the growth of the U.S. economy.
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