Trump blasts Fed chair Powell and looks forward to his 'termination'
Source: Washington Post
April 17, 2025 at 8:33 a.m. EDT
President Donald Trump blasted the Federal Reserve for not lowering interest rates and said the central bank chairs termination cannot come fast enough, ratcheting up the White Houses public pressure on the central bank.
The message, posted on Truth Social early Thursday, came one day after Fed Chair Jerome H. Powell warned that the administrations trade war was highly likely to spur a temporary rise in inflation, with the potential for longer-lasting effects. Markets tanked on Powells remarks.
Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete mess! Trump wrote. Referring to interest rates, he added, He should certainly lower them now. Powells termination cannot come fast enough!
The Fed closely guards its independence from politics so it can make decisions with the long-term health of the economy in mind. Trump has repeatedly called for the Fed to lower rates and signaled that he does not want Powell to continue as Fed chair. During his first term, Trumps lawyers concluded that the president could not fire the Fed chief without cause, although a federal court recently gave Trump a partial win in his efforts to remove the leaders of two other independent agencies.
Read more: https://www.washingtonpost.com/business/2025/04/17/trump-powell-rate-tariffs/
No paywall (gift)
Since everything else he has done was illegal - including firing "independent" members of various Boards, I am surprised he hasn't touched the guy who he appointed back during his first term. Maybe because Powell stood up to him very early on and did so in a way that apparently chilled him.

spooky3
(37,372 posts)Will fight back legally.
Itll never happen but Id love to hear Powell reply, Funny how many people would feel the same way about your termination.
BumRushDaShow
(151,126 posts)or various Board Members who are in termed positions.
It's one of 2 things - either Powell had a way of cutting through his bullshit -OR- the REAL oligarch PTB told him "don't touch or else".
spooky3
(37,372 posts)And I didnt hear the board members say, prior to their dismissal, that they would not leave if Trump fired them or that theyd sue.
On edit: adding to his powerhe likely has strong support from many of the business titans whose opinions and money TSF cares about.
BumRushDaShow
(151,126 posts)he wanted to get rid of him back during the first term when he was whining about the interest rate increases and Powell finally relented and held them steady for a bit. Of course 45's COVID economic collapse meant that they had to scramble to take the rates back down to near zero.
Bernanke had headed up the Fed during the 2008 economic collapse and took the rates down to near zero until near the end of Obama's 2nd term when they started going back up again with Yellen, and that continued with Powell in 45's term.
Powell is also a Republican, so that also factors in somewhere.
speak easy
(11,398 posts)If you dont kiss the ring youre out. Whatta way to calm the markets. Fail.
magicarpet
(18,067 posts)..... an El Salvadoran prison in the middle of the night - never to be seen or heard from again ?
Even suggest that!
Efilroft Sul
(3,970 posts)Trump doesn't want to just fire Powell; he wants him dead. And somewhere out in the heartland, a red hat is watching the president say this inflammatory sound bite on Fox News and is muttering to himself, "By your command, Mr. President."
spooky3
(37,372 posts)(Published today)
https://news.bgov.com/banking-law/powell-shows-why-fed-independence-matters-now-jonathan-levin-1
Federal Reserve Chair Jerome Powell is pushing back against President Donald Trump after deftly avoiding confrontation for months. In a question and answer session Wednesday, Powell portrayed chaotically implemented tariffs as plainly bad for the economy; slammed the approach taken by the Department of Government Efficiency; and issued a legal defense for why he thinks he can withstand any attempt by Trump to fire him. At a time of rising concern about Fed independence, he did us all a favor by showing hes laser-focused on the central banks core goals and will fight to be able to keep it that way.
Predictably, ...
The rest is behind a paywall.
Grins
(8,258 posts)Like so many others
Yo_Mama_Been_Loggin
(121,904 posts)Something we haven't seen since the seventies.
The more Trump open his mouth the more he proves he's an idiot.
PerceptionManagement
(481 posts)Once he shuffles his mortal coil, we can burn the bloated suety corpse for electricity, and it will be the only social good he's ever performed. We can also bury his remains next to his ex-wife what's-her-name on his golf course so no one can piss on his grave.
It's a logical plan of action.