US EditionIs Jerome Powell’s Tenure as Fed Chair Under Threat Amid Rising Political Pressure?
UNITED STATES, JUL 8 – President Trump is considering multiple candidates to replace Federal Reserve Chair Jerome Powell, citing disagreements over interest rate policies and economic strategy.
- President Donald Trump has intensified calls to replace Federal Reserve Chair Jerome Powell before his term ends in May 2026 amid rising political pressure.
- Trump criticizes Powell for refusing to cut interest rates, blaming the delay for costing the nation hundreds of billions and urging investigations into alleged misconduct linked to a Fed renovation.
- Key Republican figures like Senators Tommy Tuberville and Rick Scott and FHFA Director Bill Pulte echo discontent, accusing Powell of political bias and overseeing reckless spending including a $2.5 billion headquarters project.
- The Federal Reserve has held rates at 4.25%–4.5%, with unemployment at 4.2% and cautious policy urged to balance inflation risks partly driven by tariffs, while Trump considers naming a "shadow chair" to pressure Powell.
- This confrontational environment raises concerns about the Fed's independence and market stability, as Senate Republicans prepare to confirm Powell’s successor and cautiously navigate uncertain economic conditions.
29 Articles
29 Articles
Bessent Escalates Fed Criticism Amid Race for Chair
Treasury Secretary Scott Bessent, one of several candidates reportedly being considered by President Donald Trump to potentially replace Federal Reserve Chair Jerome Powell, has publicly stepped up his criticism of the central bank's policies in recent months despite an unwritten rule that treasury secretaries steer clear of interfering with the Fed's operations, The New York Times reports. He has complained that the Fed has been too slow to cut…
Trump demands his own appointee be replaced with 'anyone' else
President Donald Trump continued his war against Federal Reserve chairman Jay Powell on Wednesday, demanding he be replaced in a Truth Social post."ANYBODY BUT 'TOO LATE,'" Trump wrote — referencing his nickname for Powell of "Mr. Too Late," for not reducing interest rates as quickly or readily as h...
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