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President Donald Trump on Wednesday renewed his call for Federal Reserve Chair Jerome Powell to resign, accusing him of mismanaging monetary policy and harming the U.S. economy.
In a Truth Social post made late Wednesday afternoon, Trump wrote, “Too Late” should resign immediately!!!
The post included a link to a Bloomberg article titled, “Fed Chair Should Be Investigated by Congress, FHSA Head Says.”
Powell, who was initially nominated to lead the Federal Reserve by Trump in 2017, was later reappointed by President Joe Biden for a second term. His current term is set to expire in May 2026.
Trump’s latest demand adds to a series of escalating attacks against Powell and the Fed’s current policy direction. In recent weeks, Trump has publicly criticized the central bank for keeping interest rates elevated, claiming that the decision is costing the country trillions in unnecessary interest payments.
Earlier this week, Trump slammed Powell and the Federal Reserve Board for their inaction. “Jerome ‘Too Late’ Powell, and his entire Board, should be ashamed of themselves for allowing this to happen to the United States,” Trump wrote on Truth Social.
“They have one of the easiest, yet most prestigious, jobs in America, and they have failed — and continue to do so,” he added.
“If they were doing their job properly, our country would be saving trillions of dollars in interest cost,” Trump continued. “The board just sits there and watches, so they are equally to blame. We should be paying 1% interest, or better!”
White House Press Secretary Karoline Leavitt told reporters Monday that Trump had signed a letter addressed to Powell urging the Fed to cut rates.
Powell has argued for caution about lowering rates too soon. According to CBS News, he has said that concerns over the inflationary effects of Trump’s proposed tariffs are a major reason the Fed is holding off on rate reductions. Powell has emphasized the need to observe how tariffs could impact consumer prices before adjusting monetary policy.
“I’m very focused on just doing my job,” Powell said at a European Central Bank forum in Portugal on Tuesday, Newsweek reported.
“The things that matter are using our tools to achieve the goals that Congress has given us: maximum employment, price stability, financial stability. And that’s what we focus on 100 percent,” he continued.
