Trump Reconsiders Firing Fed Chair Powell Amid Economic Tensions
WASHINGTON, D.C. (June 21, 2025) — Former President Donald Trump signaled he may reverse his previous intentions to fire Federal Reserve Chair Jerome Powell, despite repeated public criticism of Powell’s handling of interest rates.
Speaking in a recent interview, Trump said, “I don’t like what he’s doing with interest rates — I think he’s making a big mistake. But we’ll see what happens. I might change my mind.”
Trump has frequently accused Powell of keeping rates too high, claiming the policy is hurting economic growth and job creation. His renewed focus on Powell comes just days after the Federal Reserve held interest rates steady, while also projecting slower economic growth and higher inflation through the remainder of 2025.
The political implications of such a move are complex. A recent U.S. Supreme Court ruling has limited the president’s ability to remove the Federal Reserve Chair without cause, making it significantly harder for Trump—or any future president—to take direct action against Powell.
Despite Trump’s criticisms, Powell has defended the Fed’s cautious stance, citing the need to curb inflation and maintain long-term economic stability.
The Fed’s next rate decision is expected in late July, and markets are already showing signs of volatility as Trump’s comments stir uncertainty.
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