Reserve Chair Powell’s termination ‘cannot come fast enough’: Trump

U.S. President Donald Trump slammed Federal Reserve Chair Jerome Powell on Thursday (April 17, 2025), reiterating his frustration that the Fed has not aggressively cut interest rates and saying that the central bank leader’s “termination cannot come fast enough.”

Mr. Trump hinted at moving to fire Mr. Powell, whose term does not expire until next year. The Republican President’s broadside comes a day after Mr. Powell signaled that the Fed will keep its key interest rate unchanged while it seeks “greater clarity” on the impact of policy changes in areas such as immigration, taxation, regulation and tariffs.

Mr. Powell’s comments contributed to a drop in stock prices onWednesday (April 16, 2025).

“Oil prices are down, groceries (even eggs!) are down, and the USA is getting rich on tariffs,” Mr. Trump said in a social media post.