Trump says 'would love' to see Fed Chair Powell resign
2 Min Read
US President Donald Trump warns of potential market disruption if Fed Chair Powell were removed directly.
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US President Donald Trump speaks at the "Inaugural Pennsylvania Energy and Innovation Event" at Carnegie Mellon University, Tuesday, July 15, 2025, in Pittsburgh. (AP)
US President Donald Trump expressed his desire for Federal Reserve Chair Jerome Powell to step down, while also acknowledging that many have warned about the potential market disruption if he, as president, were to take action to remove Powell from his position.
Trump made his remarks on Powell in an interview with the Real America's Voice network on Wednesday.
In the interview, Trump stated, "I'd love if he wants to resign, that would be up to him. They say it would disrupt the market if I did," while later reiterating his criticism regarding the costs of the renovation of the Fed's headquarters. Earlier, a Fed spokesperson had referenced Powell's consistent stance, noting that he has repeatedly stated his intention not to resign, even if asked.
Trump clashes with his Fed Reserve Chair
Powell, who was initially nominated by Trump in late 2017 to lead the Fed and later renominated for a second term by then-President Joe Biden four years after that, has emphasized his intention to complete his tenure as Fed chair, with his term set to expire on May 15, 2026. Meanwhile, Trump has stated that he does not intend to fire Powell.
Trump has repeatedly criticized the Federal Reserve Chair almost daily, arguing that the Fed chair has been "too late" in cutting interest rates.
On July 3, US President Donald Trump revived his ongoing criticism of Federal Reserve Chair Jerome Powell through a direct Truth Social post, sharing an article about a federal housing regulator's demand for an investigation into Powell while adding the comment, "'Too Late' should resign immediately!!!" as he called for Powell's immediate resignation.
The demand emerged as political scrutiny intensified over the Federal Reserve's $2.5 billion headquarters renovation, while disagreements persisted regarding monetary policy, even though Trump had originally appointed Powell to helm the central bank during his first term.
Trump significantly escalated this conflict on April 17, raising the possibility of ousting him from his position as tensions mounted over disagreements on interest rate decisions and the economic consequences stemming from the administration's hardline trade policies.
