US EditionTrump: ‘People are holding me back’ from firing Jerome Powell
Trump blames Powell's interest rate policies for housing market damage and seeks a Fed overhaul, naming Scott Bessent as successor despite his refusal, allies say.
- On Tuesday from the Oval Office, President Donald Trump demanded immediate removal of Federal Reserve Chair Jerome Powell and named Treasury Secretary Scott Bessent his preferred successor, despite Bessent's refusal and role overseeing interviews.
- Because of his view on rate policy, Trump blamed Powell for damaging the housing market and mishandling interest rates, urging benchmark rates near 1% or 2% from 3.75% to 4.00% amid a five-month attack.
- Amplifying the dispute online, Trump called Powell a fool and a stupid man despite appointing him in 2018, recently posting a Truth Social cartoon firing Powell while Scott Bessent lacks Fed jurisdiction.
- Allies have urged overhaul, with Larry Kudlow saying a broad Federal Reserve change is needed, while a White House official said the administration maintains confidence in Secretary Bessent, noting ongoing private discussions about Powell's fate.
- Administration tensions are visible as Trump muses firing Scott Bessent over his defense of Powell and plans to narrow the shortlist of candidates from five, risking financial markets.
16 Articles
16 Articles
Hassett emerges as frontrunner in Trump Fed chair audition
White House National Economic Council Director Kevin Hassett is seen by advisers and allies of President Donald Trump as the frontrunner to be the next Federal Reserve chair, according to people familiar with the matter, as the search for a new central bank leader enters its final weeks.
Trump escalates fight with Fed Chair Powell, telling: ‘If you don’t get it fixed fast, I’m going to…’
Donald Trump escalated his criticism of Federal Reserve Chair Jerome Powell, saying he would “love to fire his ass”. At a Washington investment forum, Trump pressed Treasury Secretary Scott Bessent to speed up the search for Powell’s replacement.
President Donald Trump insists he would love to get rid of Jerome Powell as head of the Federal Reserve and appoint a more skilled person
The president repeated the idea that he would get rid of the president immediately if possible, but Powell’s term of office is not expected to end until May 2026. Powell has so far rejected calls to resign on his own initiative.
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- 40% of the sources lean Left, 40% of the sources are Center
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