On April 17, 2025, President Donald Trump intensified his criticism of Federal Reserve Chairman Jerome Powell, declaring that Powell’s “termination cannot come fast enough.” Trump expressed frustration over Powell’s handling of interest rates, asserting that the Fed should have acted more swiftly, similar to the European Central Bank. He also labeled Powell’s recent speech as “another, and typical, complete mess.
In response, Powell emphasized the Federal Reserve’s commitment to independence, stating that such decisions are based on data and not influenced by political pressure. He also expressed concerns about the potential economic impact of Trump’s tariff policies, suggesting they could lead to inflationary pressures and economic shocks.Reuters
Despite Trump’s calls for Powell’s removal, legal experts note that the President cannot unilaterally dismiss the Fed Chair without “cause,” a standard that typically requires evidence of misconduct or failure to perform duties. Powell’s term is set to conclude in May 2026, and it remains uncertain whether Trump will pursue legal avenues to seek an earlier departure.
