US President Donald Trump has escalated his attacks on Federal Reserve Chair Jerome Powell, publicly calling for his immediate resignation via Truth Social. This follows a federal housing regulator's call for an investigation into Powell's testimony regarding Fed headquarters renovations. Trump has consistently criticized Powell for not cutting interest rates, while Powell attributes the Fed's current stance to Trump's tariff policies.
Jerome Powell: Trump calls for US central bank head to quit immediately
International BusinessUS Federal ReserveJerome PowellDonald Trump
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TL;DR: Key points with love ❤️US President Donald Trump has escalated his attacks on Federal Reserve Chair Jerome Powell, publicly calling for his immediate resignation via Truth Social. This follows a federal housing regulator's call for an investigation into Powell's testimony regarding Fed headquarters renovations. Trump has consistently criticized Powell for not cutting interest rates, while Powell attributes the Fed's current stance to Trump's tariff policies.
Trending- 1 2017: Trump nominated Jerome Powell to be Fed chair.
- 2 Earlier this year (2025): Powell stated he had 'no intention of firing him' (referring to Trump's previous stance).
- 3 Last week (before July 3rd, 2025): Powell told the Senate that reports about Fed headquarters costs were 'misleading and inaccurate.'
- 4 Tuesday (July 1st, 2025): Powell stated in Portugal that US rates would have been cut if not for Trump's tariff policies.
- 5 Wednesday (July 2nd, 2025): Federal Housing Finance Agency director Bill Pulte called for Congress to investigate Powell.
- 6 Thursday (July 3rd, 2025): Trump called for Jerome Powell to resign immediately.
- Escalation of political pressure on the Federal Reserve
- Potential for further legal challenges regarding presidential authority to remove Fed chairs
- Continued debate over economic policy and interest rates
What: US President Donald Trump called for Federal Reserve Chair Jerome Powell to resign immediately.
When: Thursday (July 3rd, 2025) for Trump's call; Tuesday (July 1st, 2025) for Powell's comments in Portugal; Wednesday (July 2nd, 2025) for Bill Pulte's call for investigation.
Where: United States (Washington D.C. for Fed headquarters); Portugal (for central bankers meeting).
Why: Trump wants the Federal Reserve to lower interest rates to boost economic growth. He is also reacting to a call for investigation into Powell's testimony about Fed headquarters renovations. Powell, in turn, attributes the Fed's current rate stance to Trump's tariff policies.
How: Trump made the call via a post on his Truth Social platform, linking to a news article about the investigation call.