Trump Indicates He May Fire Fed Chair Jerome Powell

President Donald Trump reportedly told Republican lawmakers on Tuesday night that he may oust Federal Reserve Chair Jerome Powell over his growing frustration with the official over U.S. interest rates, according to multiple reports.

The president has repeatedly attacked the Fed chair, who has refused to lower the U.S. central bank’s interest rates over concerns about the effect Trump’s tariffs have on the economy. Trump, who picked Powell for the position in 2017, frequently calls for him to resign and has previously even threatened to fire him.

Trump appeared to shut down the many reports that Powell’s firing is imminent, saying on Wednesday that the fed chair is “doing a lousy job” but that he was “not talking about that.”

“I talked about the concept of firing [Powell],” he said, according to The Washington Post. “Almost everyone said I should, but I’m more conservative than they are.”

Powell’s term is set to expire in May 2026.

This is a developing story. Please check back for updates.