President Trump Considers Asking Jerome Powell to Leave

“Joe Biden had 3 market corrections much bigger than the one Trump is now experiencing and his lasted for months. Biden’s were self-inflicted. Trump is trying to save the planet from a Chinese Hegemony,” Bill Mitchell

President Trump is considering firing Jerome Powell. “I don’t think he’s doing the job, he’s too late, always too late, a little slow.” Reportedly, he can’t fire him unilaterally.

The President believes Powell will leave if he asks him to. Jerome Powell has previously said he can’t demote or fire him or any of the governors. It is not permitted under the law.

Powell wants both parties to work together on it, but the divide is too broad between Democrat socialism and Republican capitalism.

Powell also said the economy is in a solid position.

Powell won’t cut rates and, in the past, has been late cutting them. President Trump criticized Fed Chair Jerome Powell on Truth Social, urging rate cuts and hinting at Powell’s “termination.” Trump said, “Too Late should have lowered Interest Rates… Powell’s termination cannot come fast enough!” He noted falling oil and grocery prices while claiming the U.S. is “RICH ON TARIFFS.”

Trump referenced the ECB’s expected seventh rate cut, contrasting it with Powell’s inaction. On April 16, Powell warned at the Economic Club of Chicago that tariffs risk higher inflation and slower growth, contributing to a market sell-off. He said the Fed would assess its economic goals before taking action.

Treasury Secretary Bessent is allegedly telling Donald Trump privately that firing him would add more instability to the markets. You can’t take that seriously yet without confirmation.

EJ Antoni points to Powell’s lack of success:

Bill Mitchell blames Powell for the market decline. Powell’s announcements do affect the market.

This is who President Trump is supposed to deal with:

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