'If I Want Him Out, He'll Be Out of There Real Fast,' says Trump on Fed Chair Jerome Powell

Speaking to reporters from the Oval Office, US President Donald Trump didn’t hold back his frustration with the central bank’s top official, Jerome Powell. “I don't think he's doing the job. He's too late, always too late,” the president said. “I'm not happy with him. I let him know it, and if I want him out, he'll be out of there real fast, believe me.”

Trump did not clarify whether he plans to fire Powell, but his comments have reignited concerns over the independence of the Federal Reserve — a cornerstone principle of U.S. economic policy.

Powell has previously stood firm

Powell, who was first nominated to lead the Fed by Trump in 2017 and reappointed by President Biden in 2022, has made it clear he doesn’t intend to resign under political pressure.

In a news conference in November, Powell was directly asked if he would step down if Trump or any president requested it. His response was blunt: “No.”

He later noted that top officials at the Federal Reserve cannot legally be removed or demoted without cause, underscoring the central bank’s autonomy from the White House.

Tariff tensions and economic pressure

Trump’s latest remarks came a day after Powell warned that the administration’s tariffs could negatively impact the U.S. economy — an assessment that appears to have further fueled Trump’s ire.

The president has repeatedly urged the Fed to cut interest rates, arguing that such a move is essential to stimulate growth amid economic uncertainty. However, Powell and other Fed officials have maintained a cautious stance.

A controversial showdown brewing

Legal experts point out that attempting to remove Powell without proper cause would be both unprecedented and likely illegal. Still, Trump’s statements reflect growing friction between the White House and the country’s top economic institution as debates over inflation, tariffs, and interest rates heat up.

With Powell’s term set to expire in May 2026, the Fed chair faces a potentially turbulent road ahead — one now made even rockier by threats from the very president who first appointed him.