US President Donald Trump will pass documents to Federal Reserve Chair Jerome Powell on July 24, 2025, during a tour of the Federal Reserve Committee building currently undergoing renovations in Washington, DC, Washington, DC, to confirm the facts.
Kent Nishimura | Reuters
President Donald Trump posted an image of a cartoon depicting him fired Federal Reserve Chairman Jerome Powell on Saturday.
The posts about true social were the image of myself pointing my fingers and screaming, “You’re fired!” To Powell, who had the box along with his belongings. Behind them are depictions of the seal of the Federal Reserve.
According to visual analysis by ChatGpt, images appear to be “AI-generated or digitally illustrated.”
Trump repeatedly criticizes Powell for his careful approach to cutting interest rates, and loves him “too late Powell.” The latest threat comes as the central bank cut its fees earlier this month for the first time this year. Powell’s term as a chair ends in May 2026.
The White House did not immediately respond to CNBC’s request for comment.
While others have criticised the previous Fed chair, it would be unprecedented to fire a top central bank as the US president has never tried to do so. A recent Supreme Court decision showed that the president was not authorized to remove federal officials at will. Powell repeatedly said that his dismissal was “not permitted under the law.”
The Trump White House blasted Powell over the federal government’s renovation to Washington headquarters, raising suspicions that Trump could try to take the Fed leader away for a cause. Recently, Trump has eased his criticism of the Fed building, but in his view he continues to speak out about Powell being hurting the economy by keeping the rate high.
Trump tried to fire Governor Lisa Cook in August on suspicion of mortgage fraud. The Supreme Court is set to control the matter soon. The Justice Department told the Supreme Court Friday that firing Cook on alleged misconduct would not harm the financial markets. Cook’s attorneys argued in advance in the High Court that her removal could undermine Fed’s independence.
So far, financial markets have shown little response to Trump’s Powell threat or Cook’s shooting. While many economists and investors believe that firing Powell before the end of his term could lead to a rise in long-term interest rates to the concept, the Fed will begin acting in Trump’s interests rather than following a double mission from a Congress with stable inflation and low unemployment.
