Powell Under Pressure—Again
President Trump escalates a full-scale political attack on the Fed Chair, triggering a storm of resignations, accusations, and questions about central bank independence.

The Fed's independence faces political heat as Trump ignites a campaign against Powell
The simmering feud between Donald Trump and Federal Reserve Chair Jerome Powell has officially boiled over. In a late-night Truth Social post, President Trump didn’t mince words. “Jerome Powell should resign immediately,” Trump declared, escalating a full-blown pressure campaign that has intensified throughout the week.
It’s not the first time Trump has taken aim at the central bank’s top official, but this latest volley comes with a wave of coordinated criticism from his administration. At the heart of Trump’s frustration is the Fed’s refusal to cut interest rates more aggressively. He posted a note he personally wrote to Powell, saying “Jerome—You are, as usual, 'Too Late'” and accused him of costing the U.S. “a fortune.” The White House press secretary Karoline Leavitt even held up the note for the media to see during a briefing, underscoring the administration’s effort to make the critique impossible to ignore.
