Trump Slams Powell: “His Firing Cannot Come Fast Enough”

U.S. President Donald Trump has once again unleashed criticism at Federal Reserve Chair Jerome Powell.

In an angry outburst Thursday morning, Trump called Powell both “slow” and “incompetent,” demanding his removal with the words: “Powell’s termination cannot come fast enough!”

The tirade came just a day after Powell delivered a speech in Chicago, warning that Trump’s own trade and tariff policies pose significant risks to the U.S. economy. According to Powell, the administration has enacted “very fundamental policy changes,” including sweeping tariffs that have been “substantially larger than expected.”

He emphasized that the central bank is now navigating uncharted territory, facing challenges not seen since the stagflation of the 1970s.

A Longstanding and Deepening Rift

Trump’s frustration with Powell is nothing new. The tension began as early as 2018, despite Powell being Trump’s own pick for Fed Chair.

At the time, the Fed raised interest rates multiple times to prevent the economy from overheating. Trump retaliated by labeling Powell “the enemy” in 2019. During the COVID-19 crisis, the relationship briefly thawed when Powell aggressively cut rates to stave off economic collapse—earning temporary praise from Trump.

Now the feud is back in full force. Trump criticizes Powell for being too slow to cut interest rates—especially in comparison to the European Central Bank, which on Thursday cut rates for the seventh time in a year. Trump wrote: “Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete ‘mess!’”

A Battle Over Fed Independence

Trump’s repeated attacks have reignited debate over the Federal Reserve’s independence. According to Powell, a sitting president cannot remove a Fed chair before the end of their term—a safeguard meant to protect the central bank’s autonomy.

Trump, however, has shown a willingness to challenge independent institutions, previously firing members of the Federal Trade Commission and the National Labor Relations Board.

Now, all eyes are on a case heading to the Supreme Court that could potentially expand presidential power over independent agencies like the Fed. Powell, whose term runs until May 2026, has stated firmly that he intends to serve it in full, regardless of political pressure.

Economic Uncertainty Ahead

The Fed faces a turbulent economic outlook. Inflation risks are rising, fueled in part by Trump’s tariffs, while growth forecasts remain bleak. Economists now estimate a 45% chance of a U.S. recession.

Fed officials have warned that persistent political instability could make inflation even harder to control. John Williams, president of the New York Fed, said Thursday: “I don’t see any reason to change interest rates right now… it’s about gathering information and understanding what’s happening in the economy.”

Trump disagrees—and he’s made it clear that Powell no longer has his trust. Whether he’ll succeed in removing the Fed chair before the end of his term now depends on a legal battle that could reshape the foundations of America’s economic governance.

Our team may have used AI to assist in the creation of this content, which has been reviewed by our editors.