U.S. President Donald Trump passes a papers to Federal Reserve Chair Jerome Powell to fact-check the numbers during a circuit of the Federal Reserve Board building, which is presently undergoing renovations, successful Washington, D.C., U.S., July 24, 2025.
Kent Nishimura | Reuters
President Donald Trump posted connected Saturday a cartoon representation depicting him firing Federal Reserve Chairman Jerome Powell.
The station connected Truth Social was an image of himself pointing his digit and shouting "YOU'RE FIRED!" to Powell, who was holding a container with his belongings. Behind them is simply a depiction of the seal of the Federal Reserve.
The representation appears to beryllium "AI-generated oregon digitally illustrated," according to ocular investigation by ChatGPT.
Trump has repeatedly criticized Powell for his cautious attack to cutting involvement rates, nicknaming him "Too Late Powell." The latest menace came adjacent arsenic the cardinal slope lowered rates earlier this period for the archetypal clip this year. Powell's word arsenic seat ends successful May 2026.
The White House didn't instantly respond to CNBC's petition for comment.
Firing the apical cardinal banker would beryllium unprecedented arsenic nary U.S. president ever has attempted to bash so, though others person criticized anterior Fed chairs. A recent Supreme Court decision indicated that the president does not person the authorization to region Fed officials astatine will. Powell has said repeatedly that his firing is "not permitted nether the law."
The Trump White House has blasted Powell implicit renovations to the Fed's Washington headquarters, raising suspicion that Trump could effort to region the Fed person for cause. Although lately Trump has eased his criticisms of the Fed building, portion continuing to beryllium vocal astir Powell hurting the system by keeping rates excessively precocious successful his view.
Trump attempted to occurrence Fed Governor Lisa Cook successful August connected alleged owe fraud. The Supreme Court is acceptable to regularisation connected that substance soon. The Department of Justice connected Friday said successful a Supreme Court filing that firing Cook for alleged misconduct would not harm the fiscal markets. Cook's attorneys argued successful a anterior filing to the precocious tribunal that her removal could ruin Fed independence.
So far, the fiscal markets person shown small absorption to Trump's Powell threats oregon Cook's attempted firing. Though galore economists and investors judge firing Powell earlier his word ends could origin longer-term involvement rates to emergence connected the conception the Fed would commencement to enactment successful Trump's interests and not according to its dual mandate from Congress of unchangeable ostentation and debased unemployment.
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