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President Trump: “Maybe I’ll Have to Change my Mind About Firing Jerome Powell”
President Trump isn’t too happy with Jerome Powell — to put it lightly!
After the Federal Reserve Chair refused, again, to cut interest rates earlier this week, President Trump is now hinting that he may fire him.
In a long post on Truth Social, President Trump absolutely let Powell have it, calling him a “numbskull” and a “Moron.”
“Maybe, just maybe, I’ll have to change my mind about firing him?” President Trump wrote.
Read President Trump’s full Truth Social post here:
“Too Late” Powell complains about costs, much of which were produced by the Biden Fake “Government,” but he could do the biggest and best job for our Country by helping to lower Interest Rates and, if he reduced them to the number they should be, 1% to 2%, that “numbskull” would be saving the United States of America up to $1 Trillion Dollars per year. I fully understand that my strong criticism of him makes it more difficult for him to do what he should be doing, lowering Rates, but I’ve tried it all different ways. I’ve been nice, I’ve been neutral, and I’ve been nasty, and nice and neutral didn’t work! He’s a dumb guy, and an obvious Trump Hater, who should have never been there, I listened to someone that I shouldn’t have listened to, and Biden shouldn’t have reappointed him. We have virtually No Inflation, our Economy is doing really well, and will soon be doing, with the tremendous Tariff Income coming in, and Factories being built all over the Country, better than it has ever done before. If he was concerned about Inflation or anything else, then all he has to do is bring the Rate down, so we can benefit on Interest Costs, and raise it in the future when and if these “other elements” happen (which I doubt they will!). Don’t say that you think there will be Inflation sometime in the future, because there isn’t now but, if there is, raise the Rates! We should be at the TOP of the attached List, not the bottom. I don’t know why the Board doesn’t override this Total and Complete Moron! Maybe, just maybe, I’ll have to change my mind about firing him? But regardless, his Term ends shortly!
Earlier this week, President Trump unleashed on Jerome Powell to reporters:
President Trump is not mincing words with Jerome Powell
“I think he hates me, he should I call him every name in the book trying to get him to do something. I call him ‘too late,’ come on, too late, let’s have dinner.” pic.twitter.com/wOO4MOAwFh
— Media Research Center (@theMRC) June 18, 2025
He also (jokingly?) floated the idea of replacing Powell as Federal Reserve Chair with himself:
President Donald Trump told reporters in Washington on Wednesday that he believes the federal interest rate should be “two points lower” than it is. He criticized Federal Reserve Chair Jerome Powell, jokingly asking if he could appoint himself as chairman of the Fed. pic.twitter.com/2JVe1qkazT
— NTD News (@NTDNews) June 18, 2025
Wouldn’t that be something?
As you may know, President Trump’s critique of Jerome Powell centers around his refusal to cut interest rates to boost our economy.
CBS News reported:
Mr. Trump’s issues with Powell hinge on the Federal Reserve’s interest rate policies. The central bank’s interest rate-setting committee, which is chaired by Powell, has kept its benchmark rate steady so far this year, after lowering it slightly from a two-decade high last year — following a series of rate hikes in 2022 and 2023 to quell inflation.
Most recently, the committee opted against lowering rates earlier this week, drawing backlash from Mr. Trump.
The decision comes with tradeoffs. High interest rates can slow down economic growth and make it more expensive for Americans to borrow money, which is why Mr. Trump wants cuts. But lowering interest rates too quickly could overheat the economy and cause inflation to spike yet again. While inflation has cooled off in recent years, it’s still higher than the Fed’s 2% annual target, and the Fed warns Mr. Trump’s tariffs could push prices up.
“Because the economy is still solid, we can take the time to actually see what’s going to happen,” Powell said earlier this week.
Mr. Trump disagrees, nicknaming Powell “Mr. Too Late” and arguing that inflation is already low.
Whether or not President Trump decides to cut him loose, Powell’s term is set to end next year.
The Hill noted:
Powell’s term ends in 2026. He said last November he would not step down if Trump asked and that it is “not permitted under the law” for the president to fire or demote him or any of the other Fed governors with leadership positions.
Trump in April said he had no intention of firing Powell, though he has in recent days ratcheted up his criticism amid frustration over the Fed’s handling of interest rates.
Fed officials kicked off the year expecting to continue cutting interest rates as inflation drifted back toward its ideal annual level of 2 percent. But the bank has held off through the first half of 2025 amid the uncertainty driven by Trump’s tariff plans.
Powell reiterated his call for patience Wednesday, after the Fed kept rates steady once again.
What do you think?
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