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Trump demands immediate resignation of US central bank chief

2025-07-03 08:33:00, Kosova & Bota CNA

Trump demands immediate resignation of US central bank chief

US President Donald Trump has called for the Federal Reserve chairman to resign immediately, in an escalation of his attacks on Jerome Powell.

"'Too late' must resign immediately!!!" Trump said in a post on his Truth Social platform.

He also included a link to a news article about a US federal housing regulator calling for Mr Powell to be investigated for his testimony regarding renovations to the central bank's Washington headquarters.

Trump appointed Powell as Federal Reserve chairman during his first term. Since then, he has repeatedly criticized him for not cutting interest rates, but it is unclear whether the president has the authority to remove him from the post.

Despite the president's continued criticism of Mr. Powell, he previously said he had no intention of firing him.

Trump wants the Federal Reserve to lower interest rates to help spur economic growth.

Powell said Tuesday that the Federal Reserve would have cut interest rates if it weren't for the impact of Trump's tariff policies.

When asked during a meeting of central bankers in Portugal whether U.S. interest rates would have been cut again this year if the administration had not announced its plan to significantly raise rates for countries around the world, Mr. Powell replied: "I think that's true."/ CNA





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