Trump renews attacks on Fed’s Powell, demands lower interest rates
U.S. President Donald Trump speaks during a meeting with Israeli Prime Minister Benjamin Netanyahu in the Oval Office of the White House in Washington, U.S. on April 7, 2025. (AFP Photo)
United States President Donald Trump on Friday renewed his attacks on Federal Reserve Chair Jerome Powell, demanding lower interest rates and accusing him of mismanaging monetary policy.
“If we had a Fed chairman that understood what he was doing, interest rates would be coming down. He should bring them down,” Trump told reporters at the White House, claiming that inflation is on the decline.
The remarks followed Trump’s accusation a day earlier that Powell was “playing politics” by keeping rates high, and his suggestion that he could remove the Fed chief at will — despite legal limitations.
Powell, who has pushed back against political pressure, warned Wednesday that Trump’s tariff policies were “highly likely” to cause a temporary rise in inflation. He added that the Federal Reserve may be forced to balance between addressing inflation and supporting employment.
Appointed by Trump in 2018, Powell’s term runs through May 2026. He has firmly stated he intends to serve the full term, emphasizing that a sitting president cannot legally dismiss a Fed chair without cause.
“Removing a Fed chair is not permitted under the law,” Powell said.
