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Risk of Financial Panic Tempers Trump on Firing Powell

Summary by Political Wire
“President Trump this week revived a longstanding threat against Jerome Powell when he accused the Federal Reserve chair of ‘playing politics’ and moving too slowly to lower interest rates,” the New York Times reports. “But privately, according to people close to Mr. Trump, the president has for months been aware that trying to oust Mr. Powell could inject more volatility into jittery financial markets.”

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Donald Trump's growing discontent with the US Federal Reserve reached a peak this week when the president threatened to take the unprecedented step of firing the head of the Federal Reserve, which has until now enjoyed complete independence. Trump has repeatedly said he wants interest rate cuts immediately to stimulate economic growth while he unveils his tariff policy, and has threatened to fire Federal Reserve Chairman Jerome Powell if...

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  • 55% of the sources are Center
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Political Wire broke the news in New York, United States on Friday, April 18, 2025.
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