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Investing.com-- U.S. President Donald Trump kept up his criticism of Federal Reserve Chair Jerome Powell on Wednesday evening, repeating his calls that the Chair step down.
While not referring to him directly by name, Trump said on Truth.Social that “‘Too Late’ should resign immediately!!!,” referencing his repeated criticism of the Fed Chair for being too late in cutting interest rates.
Trump also linked an article on Federal Housing Finance Agency Head Bill Pulte calling on Congress to investigate Fed Chair Powell, over allegations that his recent Senate testimony on the central bank’s planned renovations to its headquarters was “deceptive.”
Pulte has largely joined in on Trump’s criticism of Powell, having earlier also called on the Fed Chair to resign. Pulte has also echoed Trump’s calls for Powell to cut interest rates immediately.
Trump has been repeatedly badgering the Fed Chair to lower interest rates, having earlier claimed that rates should be at least 2% to 3% lower from current levels.
Powell, on the other hand, has argued that Trump’s trade tariffs could potentially boost inflation, and that concerns over their inflationary impact were keeping the Fed from cutting rates.
Trump’s criticism of the Fed Chair has sparked concerns that he will attempt to fire the central banker before his term ends in May 2026, potentially upstaging the Fed’s independence.
A recent report showed Trump may also announce Powell’s successor early, just to undermine the Fed Chair.