Trump calls on Fed Chair to resign immediately

AWANI

Donald Trump has repeated his call for Federal Reserve Chair Jerome Powell to resign, the latest in a series of attacks that raised concern over the independence of the U.S. Central Bank.

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00:00U.S. President Donald Trump has repeated his call for Federal Reserve Chair Jerome Powell to step down.

00:07It is the latest in a series of attacks that have raised concern over the independence of the U.S. Central Bank.

00:16Trump called for Powell's resignation after his administration's top housing regulator

00:21urged the U.S. Congress to launch an investigation into the central banker

00:25for alleged political bias and deceptive testimony about renovations at the Federal Reserve headquarters in Washington.

00:33The president had earlier sent Powell a letter demanding that he lower the benchmark interest rate,

00:38which is currently set at a range of 4.25% to 4.5%.

00:43Trump had nominated Powell as the Fed Chair during his first term.

00:48Since then, he has repeatedly criticized Powell for not backing faster rate cuts,

00:53arguing that the cautious stance was holding back economic growth.

00:57Powell was re-nominated to the position by President Joe Biden,

01:00with his current term set to end in May 2026.

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