On April 17th, according to Politico, President Donald Trump expressed anger towards Federal Reserve Chairman Jerome Powell for showing no signs of a rate cut in the near future. In his Truth Social post released on Thursday morning, Trump wrote, "The sooner the moment of resignation comes, the better
But currently, Powell's position seems to be relatively stable.
During his first term, Trump considered dismissing Powell - a controversial move in law - and now attempting to do so again could exacerbate market instability. Currently, the market has become volatile due to recent tariff fluctuations. Two sources close to the White House revealed that Treasury Secretary Scott Bessent has repeatedly emphasized this point within the White House, and the two requested anonymity due to the discussion involving private matters. Trump himself is also aware of the weight of the situation. The confidence of investors that the Federal Reserve will make decisions based on economic trends rather than short-term political pressures is key to supporting the reputation of the United States in the global financial system.
Allies within the White House believe that Trump's post on Thursday morning was more of an attempt to disrupt Powell's position and portray him as a scapegoat for future economic problems, rather than immediately dismissing him. Of course, nothing can be said to be a certainty with Trump, and his allies have warned that Trump may change his mind in an instant and seriously push for the idea of dismissing Powell.
The White House spokesperson responded to relevant questions by stating that Trump's post on Truth Social should prevail. The US Treasury Department did not immediately respond to a request for comment.
