Trump vs. Powell: Renewed Tensions Threaten Fed Independence 

In April 2025, President Donald Trump intensified his longstanding feud with Federal Reserve Chair Jerome Powell, reigniting concerns over the central bank’s independence. Trump, dissatisfied with Powell’s refusal to cut interest rates amid declining oil and food prices, publicly declared that Powell’s “termination cannot come fast enough.”  

This conflict traces back to Trump’s first term, during which he frequently criticized Powell for not lowering rates to stimulate the economy. Despite appointing Powell in 2017, Trump has repeatedly expressed frustration over the Fed’s policies, even suggesting in 2020 that he had the authority to demote Powell.#TrumpVsPowell