U.S. President Donald Trump has once again taken aim at Federal Reserve Chairman Jerome Powell, accusing him of being “too late and wrong” on interest rate decisions. In a statement on Truth Social, Trump pointed out that while the European Central Bank (ECB) is preparing to cut rates for the seventh time, Powell has delayed action.
Trump argued that key indicators like oil and grocery prices, including eggs, are falling, and that the U.S. is benefiting from tariffs. He claimed this is the right time to lower interest rates and criticized Powell’s latest report as a “mess.” Trump stressed that Powell should have cut rates earlier and insisted that his removal is overdue.
> “Powell’s termination cannot come fast enough,” Trump said.
While speaking at the Economic Club of Chicago on Wednesday, Federal Reserve Chair Jerome Powell said that the Fed’s independence is guaranteed by law and supported by both major political parties. He also made it clear that the central bank won’t give in to political pressure and believes the ongoing Supreme Court case about independent agencies won’t impact the Fed.
Jerome Powell will stay as Fed Chair until May 2026 and as a Fed Governor until February 2028.
