#PowellVsTrump Trump criticizes Powell for Fed rate: ‘His term is ending soon!’

Trump has said that Powell would do a good job if he lowered the Fed rate. The President of the United States, Donald Trump, launched insults against Jerome Powell, Chairman of the Federal Reserve (Fed), and pointed out that “maybe” he could reconsider firing him, although he also reminded that his time in office will end soon. The criticism came after the Fed indicated this Friday that the tariffs from Trump's government have affected the confidence of businesses and consumers, although it clarified that the U.S. financial system is well positioned to “withstand” the blow.

Trump pointed out that Powell has complained about the rising costs due to tariffs but accused that this increase was caused by Joe Biden's government. Powell) could do a good job for our country, helping to lower interest rates and, if he reduced them to the number they should be, to 1 to 2 percent, that ‘fool’ would be saving the United States up to 1 trillion dollars a year,” said the U.S. President on his social media platform Truth. In its monetary policy decision this week, the Fed kept its interest rate unchanged in a range of 4.25 to 4.50 percent, as it has in all meetings of the year. However, Fed officials expect at least two rate cuts in 2025.

What did Trump say about the possible firing of Powell?

Trump has demanded that the Fed lower its rates several times and there have even been reports that he is considering firing the Fed Chairman; however, in April he said he had no intention of removing him from office. I don’t know why the Board doesn’t ignore this complete idiot! Maybe, just maybe, I’ll have to change my mind about his firing. But anyway, his term is ending soon!“, he emphasized.

Jerome Powell’s term as Chairman of the Fed will conclude in May 2026.