In a series of bold remarks that have captured headlines, U.S. President Donald Trump claimed he could remove the independent Federal Reserve Chair, Jerome Powell, if he so wished. Speaking at the White House, Trump asserted that Powell would "leave if I ask him to," igniting a debate about the boundaries of presidential power in monetary policy. 😲
During the press briefing, Trump did not hold back—he expressed his frustration with Powell’s decisions, especially as concerns over tariffs-fueled inflation grow. Powell recently warned that sweeping tariffs on nearly every trade partner could force the Fed into a difficult choice between tackling inflation or addressing unemployment, a challenge that resonates in today’s volatile economy.
Notably, Trump also took to Truth Social to emphasize his demanding stance, reiterating calls for swift action regarding Powell’s tenure. While his comments have sparked controversy, experts note that the president does not have direct authority to fire an independent Fed Chair; any removal would require a lengthy process to establish the necessary "cause." 🔍
For his part, Powell has remained resolute, pledging to serve out his full term despite the political crossfire that has intensified discussions over tariffs and monetary policies. This clash between political influence and institutional independence offers plenty of room for debate among professionals, students, and curious onlookers alike.
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Trump insists he could force out independent Fed Chair Powell
cgtn.com
