Trump posts cartoon image showing himself firing Fed Chairman Powell
Trump has frequently criticized Powell for his cautious approach to interest rate cuts, calling him 'Too Late Powell.'
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President Trump posted a cartoon on Truth Social that shows him firing Federal Reserve Chairman Jerome Powell. The image depicts Trump shouting 'YOU'RE FIRED!' while Powell carries a box of belongings.
Trump has consistently criticized Powell's careful approach to lowering interest rates, earning him the nickname 'Too Late Powell.' This threat comes even though the Fed recently cut rates for the first time this year. Firing a Fed chair would be unprecedented in American history, and Powell maintains that such action is illegal. His term continues until May 2026.
While financial markets have shown little reaction, economists warn that removing Powell could raise long-term interest rates and threaten the Fed's independence.