President Donald Trump has intensified his public criticism of Federal Reserve Chair Jerome H. Powell, calling for his immediate resignation. The former president, now a private citizen, has repeatedly argued that Powell’s monetary policies are failing to support economic growth and that the Federal Reserve is not acting in the best interest of the American public.
The recent escalation comes after Trump accused Powell of not cutting interest rates sufficiently, a move that has drawn increasing frustration from the administration. During a House Committee on Financial Services hearing last week, Powell testified about the nation’s economic outlook and monetary policy decisions. Trump has used the hearing as an opportunity to challenge Powell’s leadership and the Fed’s overall approach to interest rates.
Analysts suggest that Trump’s comments reflect a growing tension between the White House and the central bank over economic policy. The Fed’s decision to keep interest rates at current levels has been criticized by some as being too cautious, while others argue it is necessary to prevent inflation. Trump’s continued pressure on Powell highlights the ongoing political influence over monetary policy, despite the Fed’s independence.
Market reactions have been mixed in response to Trump’s comments. While some investors remain concerned about the potential for policy uncertainty, others see the situation as a sign of the Fed’s continued focus on stability. The stock market has shown resilience, with major indices like the Dow Jones, S&P 500, and Nasdaq remaining stable despite the ongoing debate.