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Business & Economy

Business & Economy

The Big Story

Trump ratchets up criticism of Powell

President Trump on Thursday said he would be able to remove Federal Reserve Chair Jerome Powell if he wanted to, adding he’s “not happy with him.”

© The Associated Press

“Oh, he’ll leave. If I ask him to, he’ll be out of there,” Trump told reporters in the Oval Office. “I don’t think he’s doing the job. He’s too late. Always too late. A little slow.”

Powell’s term ends in 2026. He was first appointed to his current post during Trump’s first term and was reappointed under the Biden administration.

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 accused Powell, a fellow Republican, of “playing politics,” and bashed him on social media earlier for being “too late” to cut interest rates.

His “termination cannot come fast enough,” Trump said of Powell.

The Hill’s Brett Samuels has the story here.

Welcome to The Hill’s Business & Economy newsletter, I'm Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.

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Essential Reads

Key business and economic news with implications this week and beyond:

Trump confident he’ll make tariff deal with EU, China amid Meloni visit

President Trump on Thursday predicted his administration would make a deal on trade with China and with the European Union amid tariff disputes.

© The Hill