President Donald Trump’s long-standing feud with Fed Chair Jerome Powell burns on, this time with him calling on Powell to resign immediately.
In a Wednesday night Truth Social post, the president said, “‘Too Late’ should resign immediately!!!”
“Too Late” is his nickname for the top banker, a criticism of Powell’s refusal to lower interest rates.
In his post, Trump included a headline from a Wednesday Bloomberg article about Bill Pulte, the head of the Federal Housing Finance Agency, calling on Congress to investigate Powell.
In a Wednesday post on X, Pulte said Congress should investigate Powell over the central bank’s headquarters renovation plans.
“I am asking Congress to investigate Chairman Jerome Powell, his political bias, and his deceptive Senate testimony, which is enough to be removed ‘for cause,'” Pulte wrote in his statement on X.
Trump’s animosity with Powell stretches back to his first term in office — he accused the Fed in 2019 of holding the stock market back.
Later that year, he said in an interview on the Fox Business Network that Powell was not doing a good job.
In 2020, Trump said he had the right to remove Powell as Fed chair, to “put him in a regular position and put somebody else in charge.”
This April, Trump kicked off his criticism of Powell again, saying on Truth Social that Powell’s “termination cannot come fast enough.”
Trump has reportedly been weighing replacements for Powell, whose term ends in May 2026. The Wall Street Journal reported last week that Trump plans to float a replacement as soon as September or October.
Representatives for Trump and the Federal Reserve did not respond to requests for comment from Business Insider.
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