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President Donald Trump said Federal Reserve Chair Jerome Powell’s “termination cannot come fast enough.”
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Trump called on the Fed to follow the European Central Bank and cut interest rates.
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Powell said on Wednesday that tariffs could usher in weaker economic growth and higher inflation.
President Donald Trump escalated his feud with Jerome Powell on Thursday, saying the Federal Reserve Chair’s “termination cannot come fast enough” in a Truth Social post.
Trump’s comments come a day after Powell said the president’s tariffs had been “significantly larger” than expected and could lead to weaker economic growth and higher inflation.
Trump wrote that the European Central Bank was expected to cut interest rates for the seventh time on Thursday and that the Fed should have done so “long ago” and “should certainly lower them now.”
The President described Powell as “TOO LATE AND WRONG,” adding: “Oil prices are down, groceries (even eggs!) are down.”
Trump’s post didn’t say whether he thought Powell should be dismissed immediately or at the end of his term in 2026.
Powell has previously said the president cannot fire him. Shortly after Trump’s election in November, Powell said he wouldn’t resign if asked and that firing him was “not permitted under law.”
This is a developing story. Check in for further updates.
Read the original article on Business Insider
