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Trump Demands Powell's Resignation Amid Economic Policy ...
2025-06-28 04:40:10
USA
Economy
Business

Trump Demands Powell's Resignation Amid Economic Policy Disagreements

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President Trump has intensified his criticism of Federal Reserve Chair Jerome Powell, demanding his resignation and labeling him unfit for the role. Trump’s discontent stems from Powell's reluctance to lower interest rates, which he believes is crucial for stimulating economic growth and supporting his proposed tax-cut initiatives.

Despite Trump's aggressive stance, Powell maintains that the labor market is strong and does not necessitate immediate rate cuts. Speculation about Powell's potential departure has surfaced, yet current odds suggest he is unlikely to leave soon.

Meanwhile, the U.S. dollar has weakened amid ongoing political tensions, while Bitcoin remains resilient in the face of market volatility. Trump's comments hint at a possible shift in leadership at the Fed, with several candidates reportedly in consideration.

Related news on that topic:

Will Trump's Criticism Prompt Powell's Exit from the Federal ... Reserve?

Federal Reserve Chair Jerome Powell's future remains uncertain amidst rising political tensions, particularly from President Trump, who has criticized Powell's cautious monetary policies. Although speculation about Powell's replacement has increased, current odds suggest only a 14% chance of his departure by year’s end. Trump's frustration could lead to a candidate announcement for a 'shadow Fed chair,' which may influence markets ahead of Powell's term conclusion. Investors reacted positively to the Dow Jones rising 0.57% as the possibility of interest rate cuts gained traction. Amid these developments, Powell defended the Fed's actions, asserting that it is not overreacting to geopolitical issues, including the Iran-Israel conflict. He emphasized the economy's resilience and the potential for a pause in rate cuts, while also supporting a stablecoin framework. The financial landscape remains volatile, with the U.S. dollar reaching a three-year low amid these uncertainties.

Could Trump's Fed Chair Choice Transform Monetary Policy and ... Markets?

The recent decline of the US dollar to a three-year low highlights the increasing uncertainty surrounding the Federal Reserve's leadership. Speculation that President Donald Trump may announce his choice for the next Fed chair sooner than expected has contributed to this volatility. Trump's critical remarks about current Chair Jerome Powell, whom he has labeled as incompetent, suggest a potential shift in monetary policy direction. This scenario raises concerns about the Fed's independence and its ability to manage interest rate expectations effectively. As the dollar weakens against major currencies, including the euro, market analysts predict a higher likelihood of interest rate cuts at the upcoming Federal Reserve meeting. Powell's cautious approach to potential rate reductions signals that the Fed is closely monitoring inflation and employment metrics. The interplay between Trump's influence and the Fed's decision-making process could significantly shape the economic landscape in the coming months. Financial markets are poised for further fluctuations as the outcomes of these developments unfold.

Read 3 more recent news on this topic

The press radar on this topic:

New York Times - Business
27. Juni 2025 um 22:43

Trump Encourages Powell to Resign in Latest Attack on the Fed Chair

President Trump has called on Federal Reserve Chair Jerome H. Powell to resign, labeling him a 'stubborn mule' and accusing him of having 'Trump derangement syndrome'. This is the latest in a series of attacks by Trump against Powell, who he feels is not lowering interest rates quickly enough. The president's criticism comes as he pushes for an expensive tax-cut package that would require the US to sell large sums of debt to finance it, making low interest rates more essential. Trump argues that..
DER SPIEGEL
27. Juni 2025 um 23:38

Donald Trump Calls for Resignation of Federal Reserve Chairman Jerome Powell - DER SPIEGEL

US President Donald Trump has once again attacked Federal Reserve Chairman Jerome Powell and demanded his resignation. Trump wants a lower key interest rate to stimulate the economy and save the government money. Powell maintains his view that the job market is robust and a reduction in the key interest rate is not necessary, although he is concerned about Trump's trade policy.
The Street
29. Juni 2025 um 14:47

Trump teases Fed Chair shake-up, says final pick down to 3 or 4 candidates

President Donald Trump teased a potential shake-up at the Federal Reserve, stating that he will choose from three or four candidates for the next Fed chair. Trump criticized current Fed Chair Jerome Powell as 'average mentally' and 'low IQ', saying he believes Powell will leave his position soon due to incompetence. The president also boasted about the US economy's performance, citing low inflation, strong growth, and increased investment.
The Street
30. Juni 2025 um 15:22

Only 14% odds of Powell leaving Fed Chair

Despite rising speculation about his removal, Federal Reserve Chair Jerome Powell's chances of leaving his post by the end of the year remain low at 14%. President Trump has publicly attacked Powell, criticizing the Fed's monetary policy as being too cautious. The U.S. dollar has dropped to a three-year low due to political uncertainty, while crypto markets have held ground, with Bitcoin remaining above $107,000 despite market turmoil. Potential successors to Powell are gaining popularity on p..
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