Trump Demands Immediate Resignation of Federal Reserve Chair Jerome Powell

In a recent social media post, former President Donald Trump urged for Federal Reserve Chair Jerome Powell to resign immediately, citing dissatisfaction over interest rates and asserting that Powell's actions warranted scrutiny. This marks a significant development amid ongoing debates about economic policy and the role of independent agencies.

Trump's escalating criticism comes as the Federal Reserve, which Powell leads, has withheld interest rate cuts that Trump has long advocated for to spur economic growth. The President's previous statements reveal a complex relationship; despite previously nominating Powell for the position, he has consistently expressed frustration with the Fed's decisions, especially regarding interest rates. In response to Trump's recent demands, the Federal Reserve has refrained from commenting.

Federal Housing Finance Agency director Bill Pulte has echoed the call for Powell to be investigated, alleging bias and misleading testimony regarding the Federal Reserve's operations. Trump's presidency has been marked by challenges to the independence of regulatory bodies, and the legal grounds for removing a Fed chair remain murky under prevailing Supreme Court rulings.

As tensions mount, Powell appears resolute in his position, asserting his legal right to serve out his term, scheduled to end in May 2026. This political showdown highlights the complex dynamics between economic policy and governance as Trump navigates the realms of influence within U.S. leadership.