Trump claims Powell will resign if asked despite past refusal to step down

President Trump expressed strong dissatisfaction with Federal Reserve Chair Jerome Powell, stating Powell would be quickly removed if Trump desired it. This comment intensifies political pressure on Powell to lower interest rates. Trump's remarks follow Powell's statement that the administration's tariffs would negatively impact the economy. Trump believes Powell is consistently slow to act and is unhappy with his performance. He did not explicitly state his plans regarding Powell's removal. Powell's term as Fed chair extends until May 2026. Previously, Powell stated he would not resign if asked by Trump. Powell clarified that removing or demoting top Fed officials is legally restricted. Trump initially nominated Powell in 2017, and President Biden reappointed him in 2022.