President says Jerome Powell is 'only going to be there for a short while'
US President Donald Trump took aim at Federal Reserve Chairman Jerome Powell on Tuesday, criticizing his performance and suggesting that his time at the helm of the central bank may soon come to an end.
"He's not doing a good job and...he's only going to be there for a short while, not going to be there much longer," Trump told Congressional Republicans at the White House.
The US has a "terrible" head of the Fed, he said, calling Powell a "stiff" and a "knucklehead."
Powell, nominated by Trump during his first term in 2017 and reappointed by President Joe Biden in 2022, has long been a target of Trump’s ire. During his presidency, Trump publicly and frequently pressured Powell to cut interest rates.
Trump blamed Biden for Powell's extension.
"I was very nice to him at the beginning...because the guy is just not a smart person. Shouldn't have been there. And I blame myself, in a way, for that, but I blame Biden for extending (his term)," Trump said, adding he was surprised when the Biden administration did that.
"I think they extended him because they knew how much I couldn't stand him, so they did it for that reason," he added.
Trump has repeatedly demanded that the Fed cut interest rates, citing moves by the European Central Bank, which cut its benchmark rate several times in 2024 and 2025, and warned that delays could stall the US economy.
