Donald Trump on Friday escalated his feud with Federal Reserve Chair Jerome Powell, suggesting he may reconsider firing him as the Fed holds interest rates steady. In a Truth Social post, Trump called Powell a “numbskull” and “an obvious Trump Hater,” venting frustration over the central bank’s refusal to cut rates despite global economic shifts and his own tariff plans.
Trump claimed he’s tried “nice, neutral, and nasty” approaches to influence Powell but added, “Maybe, just maybe, I’ll have to change my mind about firing him?” Powell’s term runs through 2026, and he has previously stated a president cannot lawfully fire or demote him.
Fed officials began 2025 expecting to reduce rates but have delayed action amid inflation concerns and market volatility tied to Trump’s economic policies. Powell urged continued caution this week as rates remain unchanged.
Trump originally appointed Powell in 2017 but has since turned on him, making Fed independence a renewed flashpoint in the administration’s economic agenda.
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