Donald Trump slams Fed Reserve chair Powell: 'Termination can’t come fast enough'

On Thursday, US President Donald Trump criticized Jerome Powell, the chair of the Federal Reserve, stating that his exit "cannot come fast enough" while reiterating his demands for immediate interest rate decreases. Trump stated, "Powell's termination cannot come fast enough," in a post on his social media account Truth Social.

He added, "He should definitely lower interest rates now, but Too Late should have done so long ago, like the ECB." During a speech at the Economic Club of Chicago, Powell stated that the Fed's "independence is very widely understood and supported in Washington and in Congress, where it really matters." Trump's remarks follow his remarks.

Powell cautioned on Wednesday that the Federal Reserve may find itself in the unfortunate situation of having to decide between addressing unemployment and inflation as a result of Trump's broad tariffs on all trading partners.