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Jun 12, 2025
Trump declares no plans to dismiss Fed Chair Powell
President Trump isn't happy with how the Federal Reserve is handling interest rates, but he's still keeping Jerome Powell as Fed Chair. Speaking at the White House, Trump called out the current rates and hinted he might have to "force something" to get them lowered—a sign of ongoing tension between his team and the central bank.
TL;DR
Powell to stay on as Fed chair for now
Trump didn't hold back, calling Powell a "numbskull" for not cutting rates. Still, he made it clear that Powell will stay on for now. With oil prices rising and economic worries growing, there's extra pressure on the Fed to move closer to what Trump wants.