President Donald Trump on Thursday claimed he could remove Federal Reserve Chair Jerome Powell at will, intensifying his criticism of the central bank leader amid growing economic uncertainty.
“Oh, he’ll leave. If I ask him to, he’ll be out of there,” Trump told reporters in the Oval Office. “I don’t think he’s doing the job. He’s too late. Always too late. A little slow. And I’m not happy with him.”
Trump insisted Powell, a Republican and Trump appointee, was “playing politics” and vowed, “If I want him out, he’ll be out of there real fast, believe me.”
The remarks followed a Truth Social post in which Trump wrote that Powell’s “termination cannot come fast enough,” criticizing the Fed chair for failing to cut interest rates in line with global central banks.
Powell’s term runs through 2026, and he has previously said he would not step down if asked. Under current law, the president cannot directly fire a sitting Fed chair, making Trump’s claim legally dubious.
Markets have grown volatile in response to Powell’s recent warnings that Trump’s tariff policies are fueling both inflation and economic slowdown — a scenario reminiscent of stagflation.
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