{"id":7143,"date":"2025-04-17T15:35:08","date_gmt":"2025-04-17T15:35:08","guid":{"rendered":"https:\/\/firearmman.com\/?p=7143"},"modified":"2025-04-17T15:35:10","modified_gmt":"2025-04-17T15:35:10","slug":"trump-says-hes-eager-for-fed-chair-jerome-powells-termination","status":"publish","type":"post","link":"https:\/\/firearmman.com\/?p=7143","title":{"rendered":"Trump says he’s eager for Fed Chair Jerome Powell’s ‘termination’"},"content":{"rendered":"
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President Donald Trump<\/a> on Thursday sharply criticized Federal Reserve Chair Jerome Powell, urging the central bank to lower interest rates<\/a> and saying Powell\u2019s \u201ctermination cannot come soon enough.\u201d<\/p>\n

It was not clear whether Trump\u2019s comments indicated a desire to remove Powell from his position or an eagerness for the completion of Powell\u2019s term as Fed chair in 2026. The Fed is an independent government agency established by Congress.<\/p>\n

The remarks came a day after Powell voiced<\/a> alarm about Trump\u2019s tariff policy, saying it would likely hike inflation and slow economic growth. Powell indicated that the Fed may approach interest rates with restraint as policymakers observe the economic effects of Trump’s tariffs.<\/p>\n

\u201cJerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete \u201cmess!\u201d Trump said Thursday morning in a post on Truth Social.<\/p>\n

Powell should \u201ccertainly lower\u201d interest rates, Trump added.<\/p>\n

Since Trump took office he has criticized Powell on multiple occasions, despite a longstanding norm of political independence at the central bank. The sentiment echoes repeated criticism of Powell that Trump voiced during his first term in office.<\/p>\n

On Wednesday, Powell raised the possibility of what economists call \u201cstagflation,\u201d which is when inflation rises and the economy slows.<\/p>\n

If the Fed raises interest rates as a means of protecting against tariff-induced inflation under such a scenario, it risks stifling borrowing and slowing the economy further, experts previously told ABC News<\/a>.<\/p>\n

On the other hand, experts said, if the Fed lowers rates to stimulate the economy in the face of a potential slowdown, it threatens to boost spending and worsen inflation.<\/p>\n

Last month, Trump urged<\/a> the central bank to reduce interest rates, hours after it chose to leave borrowing rates unchanged. In January, Trump also advocated for interest-rate cuts in response to what he described as the prospect of lower oil prices.<\/p>\n

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Federal Reserve Chair Jerome Powell speaks at the Economic Club of Chicago, April 16, 2025, in Chicago.<\/span><\/span><\/span><\/p>\n

ABC News<\/span><\/p>\n<\/div>\n<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n

In November, days after Trump\u2019s election victory, Powell struck a defiant tone when asked whether he would resign from his position if Trump asked him to.<\/p>\n

\u201cNo,\u201d Powell said, pausing to let the one-word answer register with the reporters assembled at a press conference at the Fed headquarters, blocks away from the White House.<\/p>\n

When asked whether Trump could fire or demote him, Powell responded: \u201cNot permitted under the law.\u201d<\/p>\n

Powell has repeatedly affirmed the Fed’s political independence. During a press conference at Fed headquarters last month, Powell was asked again about threats to the agency\u2019s political independence.<\/p>\n

\u201cI did answer that question in this very room some time ago, and I have no desire to change that answer and have nothing new for you on that today,\u201d Powell said.<\/p>\n

The Federal Reserve Act, which founded the central bank in 1913, granted the central bank a measure of independence from the White House.<\/p>\n

Federal law allows the president to remove a Federal Reserve governor, including the Fed chair, \u201cfor cause.\u201d<\/p>\n

Experts who previously spoke<\/a> to ABC News acknowledged that some legal ambiguity surrounds what type of conduct warrants sufficient cause for removal, but they said a policy dispute is unlikely to meet such a standard.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

President Donald Trump on Thursday sharply criticized Federal Reserve Chair Jerome Powell, urging the central bank to lower interest rates and saying Powell\u2019s \u201ctermination cannot come soon enough.\u201d It was not clear whether Trump\u2019s comments indicated a desire to remove Powell from his position or an eagerness for the completion of Powell\u2019s term as Fed […]<\/p>\n","protected":false},"author":1,"featured_media":7144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-7143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-news"],"_links":{"self":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts\/7143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7143"}],"version-history":[{"count":1,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts\/7143\/revisions"}],"predecessor-version":[{"id":7145,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts\/7143\/revisions\/7145"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/media\/7144"}],"wp:attachment":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}