The President of the United States, Donald Trump, demanded the immediate resignation of the Federal Reserve (Fed) Chairman, Jerome Powell, in a new attack against the official, whom he accuses of taking too long to lower interest rates. «Too late (nickname for Powell) should resign immediately!» the Republican leader posted on the Truth Social network.
The Republican billionaire wrote this message alongside a link to a Bloomberg news article that reports the criticisms of the director of the Federal Housing Finance Agency (FHFA), Bill Pulte, who believes that Congress should investigate Powell for allegedly lying during his last appearance before the Senate.
Trump has been openly pressuring the president of the Fed, an independent government body, for months to lower interest rates, which currently range from 4.25% to 4.5%, something he believes is hindering economic growth.
Powell, who defends that the Fed’s decisions are based on economic analysis and not political ones, stated on Tuesday that the impact of the tariffs announced by the White House has not yet been felt and suggested that there could be a rate cut in July.
Powell was appointed by Trump in 2018 and was reappointed during Joe Biden’s presidency (2021-2025). His current term concludes in May 2026.
