Trump Criticizes Fed Chair Powell, Hints at His Possible Departure
Former U.S. President Donald Trump, speaking to Republican lawmakers at the White House on Tuesday, sharply criticized Federal Reserve Chair Jerome Powell and suggested that his tenure may soon come to an end.
“He’s not doing a good job… he won’t be around much longer,” Trump reportedly said, expressing frustration with Powell’s leadership of the central bank.
Powell, originally appointed by Trump in 2017 and later reappointed by President Joe Biden in 2022, has often been a focal point of Trump’s discontent over monetary policy. Trump again labeled Powell with unflattering terms, calling him a “stiff” and a “knucklehead,” and accused him of lacking the intelligence needed for the role.
Reflecting on his own decision to nominate Powell, Trump admitted some regret but shifted much of the blame to Biden for renewing Powell’s term. “I blame myself a little, but mostly Biden — I was surprised they extended him,” he said, speculating that the reappointment was politically motivated.
Throughout his political career, Trump has frequently urged the Federal Reserve to slash interest rates. He again pointed to recent rate cuts by the European Central Bank as justification for similar action in the U.S., warning that inaction could slow down the American economy.
