U.S. President Donald Trump intensified his criticism of Federal Reserve Chair Jerome Powell on Friday, declaring that “Powell will leave if I ask him to,” in a direct challenge to the independence of America’s central bank. The statement follows a series of heated remarks posted earlier on Truth Social, where Trump called Powell “too late and wrong” and demanded immediate interest rate cuts.
Reporter: "Jerome Powell says he won't leave even if you ask him to."
President Trump: "Oh, he'll leave. If I ask him to, he'll be out of there. I don't think he's doing the job. I'm not happy with him. If I want him out, he will be out of there real fast. Believe me." pic.twitter.com/DWihANMp31
— TheBlaze (@theblaze) April 17, 2025
Earlier in the day, Trump posted that “Powell’s termination cannot come fast enough,” reigniting debate over whether a sitting president has the legal authority to remove the head of the Federal Reserve. Trump’s outburst came in response to Powell’s recent speech warning that Trump’s tariff-driven trade policy could drive inflation higher and complicate the Fed’s economic objectives. Powell reaffirmed that the central bank was “well positioned to wait for greater clarity” and would not rush to adjust interest rates, currently held between 4.25% and 4.50%.
Trump, however, praised the European Central Bank’s expected seventh rate cut and argued that the Fed should have acted long ago. “The USA is getting rich on tariffs,” he wrote, adding that Powell “should certainly lower rates now.”
Can Trump actually fire Powell?
Despite Trump’s claims, legal experts and Powell himself have maintained that a U.S. President does not have the power to fire the Fed Chair without cause. Powell had previously responded to similar attacks by asserting that such a move is “not permitted under the law.” Fed governors, including the chair, serve staggered terms to shield the institution from political influence.
Powell’s current term as Fed Chair extends through May 2026, and although Trump had earlier said he would let Powell finish his term “if he was doing the right thing,” the latest rhetoric suggests otherwise. Some of Trump’s advisers have even floated the idea of Powell voluntarily stepping down.
As the 2024 election narrative builds, Trump’s combative stance toward Powell and the Fed adds another layer of uncertainty to the economic landscape.
