Trump Says He Would ‘Love to Fire’ Fed Chair Powell, Urges Resignation

President Donald Trump renewed his criticism of Federal Reserve Chair Jerome Powell during a press interaction at Mar-a-Lago, declaring that he would "love to fire him" and suggesting Powell should voluntarily resign. The comments reflect persistent dissatisfaction with the central bank's monetary policy direction, particularly its pace of interest rate reductions aimed at easing borrowing costs for consumers and businesses.

Trump faulted Powell for insufficiently aggressive rate cuts despite recent adjustments by the Federal Open Market Committee, arguing that lower mortgage rates remain essential for economic stimulus. He referenced past restraint in pursuing dismissal due to anticipated market volatility and raised the possibility of legal challenges, including claims of mismanagement related to a Federal Reserve building project.

The president confirmed intentions to nominate a successor in January 2026, ahead of Powell's term expiration in May, while noting his preferred candidate has not shifted. Speculation surrounds several figures, including National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh, and sitting governors Christopher Waller and Michelle Bowman, each known for views potentially more aligned with Trump's economic priorities.

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Originally appointed by Trump during his first term, Powell has faced ongoing scrutiny over independent decision-making that occasionally diverged from presidential preferences on rates. Recent Fed actions have included measured reductions, though projections indicate caution regarding further easing amid mixed inflation signals.

These developments intensify debates surrounding Federal Reserve independence from political influence, with financial markets closely monitoring potential leadership changes for impacts on future policy trajectories and broader economic confidence.

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