Trump Calls Powell A 'Major Loser,' As White House Explores Legal Grounds To Fire Fed Chair Before 2026

President Donald Trump escalated his attacks on Federal Reserve Chairman Jerome Powell on Monday, according to CNBC. The president called Powell a “major loser” and urged immediate interest rate cuts to avoid a slowdown in the U.S. economy. Trump claimed inflation is virtually nonexistent and warned that Powell risks economic damage by acting too slowly. Trump and his team are exploring whether he can legally fire Powell before his term ends in 2026, though Powell has said the president lacks that authority. Evercore’s Krishna Guha warned that any attempt by Trump to fire Fed Chair Jerome Powell would likely trigger a severe market reaction, including falling equities, a weaker dollar, and rising yields.