Trump Launches Attacks on Fed Chair Powell Over Economic Failures and Demands His Removal

Former President Donald Trump has escalated his targeted criticism against Jerome Powell, the Chair of the Federal Reserve, demanding his immediate “termination” for not reducing interest rates swiftly enough in response to Trump’s economic policies. This outburst came just after Powell warned about the severe implications of Trump’s extensive tariffs on the economy during a recent event.
Trump’s remarks, posted on his social media platform, portrayed Powell as incompetent, stating “Jerome Powell of the Fed, who is always TOO LATE AND WRONG,” and characterized a recent report by Powell as a “complete ‘mess!’” Such statements exemplify Trump’s recurrent pattern of deflecting blame onto the Federal Reserve for economic turmoil that is largely the result of his administration’s own misguided policies.
During Powell’s recent address, he reiterated that the sweeping tariffs imposed by the Trump administration are creating unprecedented challenges, contributing to inflation and potential recession. As evidence mounts, even billionaires are starting to recognize the economic backlash, with some predicting a recession may already be underway.
The tension between Trump and Powell dates back to 2018, when Trump himself appointed Powell, only to later refer to him as “the enemy” due to various Fed decisions that Trump disagreed with. Despite being recommended by Trump, Powell’s tenure has now become a focal point for Trump’s frustrations as he struggles to take accountability for his administration’s economic failures.
Speculation around Trump’s ability to unseat Powell raises concerns about the integrity and independence of the Federal Reserve, a vital institution meant to operate without political interference. Trump’s threats seem to undermine that independence, mirroring tendencies seen in authoritarian regimes, which is deeply troubling for the future of American democracy.
(h/t: https://www.cnn.com/2025/04/17/economy/trump-fed-chair-powell-termination/index.html)