Why Trump Wanted to Fire Powell – Informative Content in Keywords
President Donald Trump appointed Jerome Powell as Federal Reserve Chairman in 2018.
Soon after, Trump grew frustrated with Powell’s decisions on interest rates.
Trump wanted the Federal Reserve to cut interest rates to stimulate economic growth.
He believed Powell’s policies were hurting the stock market and slowing down the economy.
During the U.S.-China trade war, Trump expected more support from the Fed to handle economic pressure.
Trump publicly criticized Powell, often through Twitter, blaming him for “holding back” the economy.
The Federal Reserve is meant to be independent of political influence, but Trump tried to influence its policies.
Trump explored the idea of firing Powell or demoting him, which was legally unclear and controversial.
Despite the pressure, Powell maintained the Fed’s autonomy and stayed in his position.
The situation highlighted the tension between political leadership and central bank independence in the U.S.