Trump posts cartoon about firing Federal Reserve Chairman Powell
Trump often criticizes Powell because he cuts interest rates too slowly. Trump calls him 'Too Late Powell.'
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President Trump shared a cartoon picture on Truth Social. The picture shows Trump firing Jerome Powell, who leads the Federal Reserve. In the image, Trump says 'YOU'RE FIRED!' and Powell holds a box with his things.
Trump is angry because Powell does not cut interest rates fast enough. He gave Powell the nickname 'Too Late Powell.' No U.S. president has ever fired a Fed chairman before. Powell says the law does not allow Trump to fire him.
His job ends in May 2026. Financial markets are not very worried about this threat.