PhreeNewsPhreeNews
Notification Show More
Font ResizerAa
  • Africa
    • Business
    • Economics
    • Entertainment
    • Health
    • Politics
    • Science
    • Sports
    • Tech
    • Travel
    • Weather
  • WorldTOP
  • Emergency HeadlinesHOT
  • Politics
  • Business
  • Markets
  • Health
  • Entertainment
  • Tech
  • Style
  • Travel
  • Sports
  • Science
  • Climate
  • Weather
Reading: Trump floats firing Fed Chair Jerome Powell : NPR
Share
Font ResizerAa
PhreeNewsPhreeNews
Search
  • Africa
    • Business
    • Economics
    • Entertainment
    • Health
    • Politics
    • Science
    • Sports
    • Tech
    • Travel
    • Weather
  • WorldTOP
  • Emergency HeadlinesHOT
  • Politics
  • Business
  • Markets
  • Health
  • Entertainment
  • Tech
  • Style
  • Travel
  • Sports
  • Science
  • Climate
  • Weather
Have an existing account? Sign In
Follow US
© 2025 PhreeNews. All Rights Reserved.
PhreeNews > Blog > World > Politics > Trump floats firing Fed Chair Jerome Powell : NPR
Urlhttp3a2f2fnpr brightspot.s3.amazonaws.com2f782fa12f5d9df3bd4eb2a47bb72c416be7432fgettyim.jpeg
Politics

Trump floats firing Fed Chair Jerome Powell : NPR

PhreeNews
Last updated: July 16, 2025 8:58 pm
PhreeNews
Published: July 16, 2025
Share
SHARE

President Trump speaks to reporters during a meeting with Bahraini Crown Prince Salman bin Hamad Al Khalifa in the Oval Office of the White House on Wednesday.

Anna Moneymaker/Getty Images


hide caption

toggle caption

Anna Moneymaker/Getty Images

President Trump says he hasn’t ruled out firing Federal Reserve Chairman Jerome Powell, who he’s been frustrated with for months for not lowering the interest rate.

The Fed has been cautious about interest rates as it assesses the impact of Trump’s tariffs on inflation. Consumer prices were up 2.7% from a year ago — a larger annual increase than the month before. But Trump says Powell refusing to lower rates is hurting the economy.

Trump told reporters Wednesday he’s “not planning” on firing Powell — a move that could undermine the Federal Reserve’s independence. But he later said he hadn’t ruled out firing Powell, saying it would be highly unlikely unless there was an instance of fraud.

Clothing prices jumped by 1% in June, contributing to a rise in inflation during the month. Imported clothing is one area where the effects of tariffs are beginning to be felt by shoppers.

“He’s a terrible Fed chair. I was surprised he was appointed,” Trump said, even though he nominated Powell as chair during his first term.

But the president continues to send mixed signals.

Trump said that he floated the idea of firing Powell to some Republican lawmakers on Tuesday and received support from them. A senior White House official who spoke on the condition of an anonymity tells NPR that Trump indicated to the lawmakers that he will fire Powell soon.

Trump caused a wave of speculation and market uncertainty in April this year when he posted, “Powell’s termination cannot come fast enough!” Days later the president said he had “no intention of firing him.”

Construction work is done around the Federal Reserve building in Washington, D.C., on Sept. 17, 2024. The estimated cost of the project has jumped more than 30% in recent years.

The White House has also blamed Powell for an ongoing multibillion-dollar renovation of the Federal Reserve offices. Russell Vought, director of the Office of Management and Budget, sent a letter to Powell on July 10 stating there were “serious concerns” about the project and asking for details on the planned expenses.

Powell has said the president doesn’t have the power to fire him under the law before his term ends next May.

In November, he said he would not step down even if Trump asked him to do so. Powell also does not set interest rates unilaterally, and instead leads a board that works together and votes on those decisions.

European Allies Must Strengthen NATO’s Indo-Pacific Ties to Address China’s Challenge and Trump’s Volatility
What the War Changed Inside Iran
Thom Tillis Figured Out How to Tell the Truth in Trump’s GOP Cult: Quit
16 Mayors on What It’s Like to Run a U.S. City Now Under Trump
Trump’s Support for Israel’s Attack on Iran Leaves an Opening for Democrats
TAGGED:ChairFedfiringfloatsJeromeNPRPowellTrump
Share This Article
Facebook Email Print
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Social Medias
FacebookLike
XFollow
YoutubeSubscribe
TelegramFollow

Weekly Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Forex

Market Action
Popular News
229fea076c75488f97ce8015233ede8f xl.jpg
Entertainment

Karmelo Anthony Charged With First-Degree Murder Over H.S. Track Meet Stabbing

PhreeNews
PhreeNews
June 24, 2025
Danielle’s Weekly Outfit Round-Up
Lufthansa Group to resume Israel flights in August
Bioplastic habitats on Mars could be built from algae
Arieli Group submits offer to acquire Spacecom

Categories

  • Economics
  • Tech
  • Business
  • Travel
  • Sports
  • Tech
  • Entertainment
  • Travel
  • Sports
  • Markets

About US

At PhreeNews.com, we are a dynamic, independent news platform committed to delivering timely, accurate, and thought-provoking content from Africa and around the world.
Quick Link
  • Home
  • Blog
  • About Us
  • My Bookmarks
Important Links
  • About Us
  • 🛡️ PhreeNews.com Privacy Policy
  • 📜 Terms & Conditions
  • ⚠️ Disclaimer

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

© 2025 PhreeNews. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?