Trump says Powell's "termination can't come fast enough"

President Trump blasted Federal Reserve chair Jerome Powell on Thursday with the strongest suggestion yet of intentions to fire the nation's most powerful economic policymaker. Why it matters: Trump's attack comes after Powell said that tariffs were likely to stoke inflation and slow economic growth. What they're saying: "The ECB is expected to cut interest rates for the 7th time, and yet, "Too Late" Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete "mess!," Trump posted on Truth Social."Powell's termination cannot come fast enough!"Reality check: The Fed is an apolitical institution. In a news conference in November, Powell was asked whether he would step down if Trump asked him to resign. Powell gave an unusually blunt answer: "No."He later said that the removal or demotion of top Fed officials was "not permitted under the law."Powell's term as Fed chair ends in May 2026. He was initially nominated by President Trump in 2017, and appointed to another four-year term by Biden in 2022.Editor's note: This is a breaking news story. Check back for updates.

President Trump blasted Federal Reserve chair Jerome Powell on Thursday with the strongest suggestion yet of intentions to fire the nation's most powerful economic policymaker. Why it matters: Trump's attack comes after Powell said that tariffs were likely to stoke inflation and slow economic growth. What they're saying: "The ECB is expected to cut interest rates for the 7th time, and yet, "Too Late" Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete "mess!," Trump posted on Truth Social.

"Powell's termination cannot come fast enough!"Reality check: The Fed is an apolitical institution. In a news conference in November, Powell was asked whether he would step down if Trump asked him to resign. Powell gave an unusually blunt answer: "No.

"He later said that the removal or demotion of top Fed officials was "not permitted under the law."Powell's term as Fed chair ends in May 2026. He was initially nominated by President Trump in 2017, and appointed to another four-year term by Biden in 2022.

Editor's note: This is a breaking news story. Check back for updates..