Donald Trump lashed out at Jay Powell on Thursday, saying the end of the Federal Reserve chair’s tenure “cannot come fast enough” as he accused him of failing to lower interest rates quickly enough.
The US president said in a post on his Truth Social platform that Powell was “always TOO LATE AND WRONG”. He added that the Fed chief “should have lowered Interest Rates, like the [European Central Bank], long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!”
It was not clear whether Trump was referring to the planned end of Powell’s term as chair, which is scheduled for May 2026, or an intention to remove him from his role sooner.