Trump Says Fed Is ‘Too Late,’ Criticizes Powell Over Interest Rates, Questions Fed Independence Again

President Donald Trump escalated his feud with Federal Reserve Chair Jerome Powell on Thursday, saying his termination cannot come fast enough, according to CNBC. In a Truth Social post, Trump criticized Powell’s handling of interest rates and praised the European Central Bank’s repeated rate cuts. Powell said in a speech that the administration’s tariffs complicate the Fed’s efforts to balance inflation control with economic growth. He has previously stated that the president cannot legally remove him before his term ends in 2026.