Trump once again calls on Fed chair Powell to quit
WASHINGTON
US. President Donald Trump continues to berate boss Jerome Powell for not cutting interest rates soon enough, saying "I hope he quits", and adding "He should quit".
He reiterated that Powell is "very bad" for the U.S.
"We should have the lowest interest rate on earth, and we don't...and yet, he's spending $2.5 billion rebuilding the Fed — the Federal Reserve building...I call him 'Too Late' — he's always too late," he added.
"I think if Jerome Powell stepped down, it would be a great thing. I don't know that he's going to, but he should," Trump told reporters on July 13 at Joint Base Andrews in Maryland.
Trump has repeatedly demanded that the Fed cut interest rates, citing moves by the European Central Bank, which has cut its benchmark rate several times in 2024 and 2025, and warned that delays could stall the U.S. economy.
Reports also said the president's allies were targeting the Fed chief over his handling of an expensive renovation at the bank's headquarters, with some suggesting they were building a case to have him removed over it.
However, strategists warned that such a move would bring the independence of the central bank into question and send U.S. Treasury yields soaring and the dollar plunging.
