«Donald Trump wants to fire Jerome Powell from the Federal Reserve due to criticism of tariffs»
17 april 2025 в 16:13
Jerome Powell, Chairman of the Federal Reserve, has faced criticism from Donald Trump for his open criticism of the president’s tariff policies and economic plans. After the president signed several executive orders and made changes upon taking office, Powell expressed concern about the impact on the Federal Reserve. Earlier this month, Powell stated at an event that «the level of tariff increases announced so far significantly exceeds expectations».
In response, Trump stated that the dismissal of Powell «cannot come fast enough» in a post on Truth Social.
«It is expected that the ECB will lower interest rates for the seventh time, and yet, 'Too late' Jerome Powell of the Federal Reserve, who is always TOO LATE AND WRONG, yesterday released a report that was yet another, and typical, full of 'disorder!'» Trump wrote. «Oil prices are falling, products (even eggs!) are getting cheaper, and the U.S. is getting rich on tariffs. He should have lowered interest rates too late, like the ECB, long ago, but he definitely should lower them now. The dismissal of Powell cannot come fast enough!»
So, is it possible for Trump to dismiss Powell from his position as Chairman of the Federal Reserve? Find out below.
Powell currently holds the position of Chairman of the Federal Reserve. He is also an investment banker and lawyer. After graduating from Princeton University and Georgetown University Law Center, he worked as a lawyer for about five years before focusing on investment banking.
It is expected that Powell will hold the position of Chairman of the Federal Reserve at least until May 2026. Despite Trump’s calls for his resignation, Powell has stated that he plans to serve out his full term.
According to Powell and the law, no, Trump cannot fire him. In late 2024, Powell noted that «the president is not allowed by law» to dismiss any member of the US Central Bank
In response, Trump stated that the dismissal of Powell «cannot come fast enough» in a post on Truth Social.
«It is expected that the ECB will lower interest rates for the seventh time, and yet, 'Too late' Jerome Powell of the Federal Reserve, who is always TOO LATE AND WRONG, yesterday released a report that was yet another, and typical, full of 'disorder!'» Trump wrote. «Oil prices are falling, products (even eggs!) are getting cheaper, and the U.S. is getting rich on tariffs. He should have lowered interest rates too late, like the ECB, long ago, but he definitely should lower them now. The dismissal of Powell cannot come fast enough!»
So, is it possible for Trump to dismiss Powell from his position as Chairman of the Federal Reserve? Find out below.
Powell currently holds the position of Chairman of the Federal Reserve. He is also an investment banker and lawyer. After graduating from Princeton University and Georgetown University Law Center, he worked as a lawyer for about five years before focusing on investment banking.
It is expected that Powell will hold the position of Chairman of the Federal Reserve at least until May 2026. Despite Trump’s calls for his resignation, Powell has stated that he plans to serve out his full term.
According to Powell and the law, no, Trump cannot fire him. In late 2024, Powell noted that «the president is not allowed by law» to dismiss any member of the US Central Bank
© Artemenko Olga
