Post Reports Trump's grudge against the Fed's Jerome Powell
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Jul 16, 2025 
In this engaging discussion, economics reporter Andrew Ackerman explores President Trump's longstanding desire to oust Federal Reserve Chair Jerome Powell. He delves into the chaotic relationship between Trump and Powell, highlighting the president's frustrations over monetary policy. The conversation also covers the complexities surrounding the appointment of a new Fed leader, the importance of reliable economic data, and recent concerns over the integrity of U.S. economic statistics, particularly in light of inflation pressures.
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Fed's Independence and Rate Control
- The Federal Reserve operates independently from the White House to make unbiased economic decisions.
- Politicians like Trump want lower interest rates, but the Fed must balance inflation and employment.
Trump's Pressure on Powell
- Trump relentlessly attacks Fed Chair Jerome Powell for not lowering interest rates faster.
- The Fed risks appearing weak if it cuts rates prematurely or faulted if it holds steady and economy worsens.
Limits on Firing Powell
- Trump cannot fire Powell without cause, according to Fed statements and legal precedent.
- "For-cause" firing requires proof of misconduct, not policy disagreement.