Trump says he may change his mind about firing Fed Chair Powell
U.S. President Donald
Trump
on Friday again floated the idea of firing Jerome Powell, the
Federal Reserve
chair he has long attacked over interest rates he wants lowered.
"I don't know why the Board doesn't override (Powell)," Trump wrote in a lengthy post on Truth Social criticizing Fed policy. "Maybe, just maybe, I'll have to change my mind about firing him? But regardless, his Term ends shortly."
Trump added: "I fully understand that my strong criticism of him makes it more difficult for him to do what he should be doing, lowering Rates, but I've tried it all different ways."
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Walgreens Hides This Cheap 87¢ Generic Viagra from Seniors – Here's Why
fridayplans
Learn More
Undo
Fed chairs have long been seen as insulated from presidential dismissal for reasons other than malfeasance or misconduct, but Trump has threatened to test that legal premise with frequent threats to fire Powell.
Trump nearly as frequently reverses course on those threats. "I'm not going to fire him," he said at the White House on June 12.
Live Events
The Fed held rates steady on Wednesday in the 4.25%-4.50% range and forecast slower growth as well as higher unemployment and inflation by year's end.
Fed Governor Chris Waller, who has been floated as a possible Trump pick to be Powell's successor, said on Friday that with inflation coming down and the labor market showing signs of weakening, rate cuts should be considered as soon as July.
But even Waller joined Wednesday's unanimous Fed decision to leave rates on hold, signaling no inclination by any of Powell's six fellow Board members, or of the five voting regional Fed bank presidents, to "override" him. Fed decisions are typically reached through consensus, and more than a couple of dissents would be rare.
Elected partly on voters' belief that he could contain high inflation, the Republican U.S. president has imposed tariff hikes in office. Powell, echoing an academic consensus, has said some of those tariff hikes will be paid for in higher consumer prices.
Powell's term ends in May 2026, and Trump is expected to nominate a successor in the coming months. A Supreme Court ruling in May eased concerns that Trump could fire Powell as the justices called the Fed "a uniquely structured, quasi-private entity."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
29 minutes ago
- Time of India
Totapuri mango farmers in a jam as crisis hits hard
1 2 3 Vijayawada: As the crisis surrounding Totapuri mangoes intensifies across Andhra Pradesh, farmers in the Nuzvid region are grappling with massive losses. With the pulp industry and jelly manufacturers halting procurement this year, demand for the Totapuri variety — primarily used for juice and not for table consumption — plummeted, pushing farmers into a difficult situation. Farmers are taking the direct sales route to overcome losses and markets in Vijayawada are flooded with Totapuri mango stalls in recent times. Traditionally, the Nuzvid region produces a large quantity of Totapuri mangoes towards the end of the season, along with Banginipalli and small juice varieties. However, unlike the superior Totapuri mangoes from Chittoor, Nuzvid's produce is often labelled inferior due to its lower sweetness levels. This year, pulp factories are offering a meagre ₹6 per kg, while middlemen are pushing prices down to ₹4 per kg. The state govt recently announced a ₹4 subsidy per kg, helping farmers receive up to ₹8. But with harvesting alone costing ₹3 per kg, farmers say they are still unable to recover their investment. In response, local farmers, with support from the agriculture marketing department, are adopting an innovative strategy — selling Totapuri mangoes directly to consumers as a table variety. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Estas calculadoras muestran el valor de tu casa al instante (échale un vistazo) Nation Más información Undo Harvested just before full ripeness, these mangoes are being sold in markets like Vijayawada for anywhere between ₹25 and ₹30 per kg, bypassing middlemen and offering some financial relief. "No one pays us more than ₹4 in the wholesale market. Even after adding ₹3 in transport costs, selling directly to consumers helps us recover a part of our losses," said M Rambabu, a farmer from Agiripalli. Adding a new twist, social media influencers are promoting ways to make juice and jelly from Totapuri mangoes. Their tutorials are inspiring homemakers like P Lakshmi to try the fruit, boosting retail sales. Despite this temporary fix, farmers are urging the govt to find a permanent solution for the Totapuri mango market crisis, which resurfaces every season.
Time of India
29 minutes ago
- Time of India
ECI launches 23 new reforms to strengthen electoral process
Vijayawada: In a move to bolster the electoral process, the Election Commission of India (ECI) has rolled out 23 new initiatives spanning six key areas — electors, political parties, election staff, legal stakeholders, procedural reforms, and internal enhancements within the commission. During an informal briefing in Velagapudi on Friday, P Pawan, deputy director (media division), said the ECI introduced a first-of-its-kind mobile deposit facility at polling booths. This service, aimed at easing the voting experience, was piloted during the recently held bye-elections for five assembly seats across four states. Among other initiatives, the ECI has increased the number of polling stations and capped the maximum number of voters per station at 1,200. To improve accessibility, additional booths are now being established in high-rise buildings and residential colonies to encourage greater voter participation. Elaborating more about the initiatives for political parties, Pawan mentioned that the ECI successfully conducted capacity-building programmes for booth level agents of political parties of Bihar, Tamil Nadu, and Puducherry states at the India International Institute of Democracy and Election Management (IIIDEM). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Pelajari Undo Subsequently, the canvassing norms in terms of distance were reduced to 100 metres from the entrance of polling stations. Moreover, the ECI held Pan India all-party meetings at the CEO/DEO/ERO levels. "A total of 4,719 meetings, including 40 meetings at the CEO level, 800 at DEO, and 3,879 at ERO levels, were held with over 28,000 representatives from various political parties participating in the meetings," the ECI deputy director added. Drawing attention to the procedural reforms, the ECI official said to resolve the bogus voters issue, the ECI introduced a new mechanism for unique EPIC numbers. Also, the full-fledged digitisation and upgradation of the voter turnout rate (VTR), index card, and statistical reports publishing process for faster dissemination of VTR trends and other electoral data was taken up by the ECI. Furthermore, over one lakh booth level officers (BLOs) and supervisors would be trained in the next few years, with training for 3,000 booth level supervisors completed at IIIDEM, New Delhi. In addition, the BLOs will be given a standard photo ID card, the ECI official added.
Time of India
40 minutes ago
- Time of India
Libra Daily Horoscope Today, June 22, 2025: Build trust with time and presence
Today's guidance is all about trust—not the kind spoken, but the kind built slowly through action. You may want quick understanding or harmony with others, but emotional bonds take patience. Let your energy reflect stability, not urgency. It's okay if not everyone understands your heart immediately. Focus on being honest and consistent. Trust doesn't grow from assumptions—it grows from presence. Give yourself and others space to show up. The more gently you build connection, the stronger it becomes. Libra Love Horoscope Today In love, your desire to feel safe and seen is valid. If you're in a relationship, let today be about listening, not fixing. Give your partner a moment to express fully, without rushing to respond. If single, observe how someone treats your time and your silence. That will reveal more than their words. You don't need to force a connection—true love grows when trust is given time. Patience in love will lead to lasting emotional depth. Libra Career Horoscope Today Career today benefits from clear and fair communication. You may be asked to step into a decision-making role or resolve a conflict. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo Be honest and diplomatic, but avoid trying to please everyone. Show your integrity in how you handle small tasks today. Someone may be observing you for future opportunities. Let your reliability speak for you. Trust will build not just from talent, but from how consistently you show up and follow through with calm energy. Libra Money Horoscope Today Financial decisions today should be taken with steady thought. Avoid jumping into a new offer unless you've checked all the details. Someone may give you advice—listen kindly but think practically. Trust is important in money matters, but blind trust is risky. Use both heart and logic. If you've been putting off a financial commitment, today is good for completing it. A little patience will help you avoid unnecessary mistakes. Financial clarity brings emotional calm. Libra Health Horoscope Today Health may feel slightly off today if you've been ignoring emotional weight. You might feel fatigue or minor chest tension from carrying unspoken stress. Trust your body's signals—they are not random. Try to find stillness in your day and avoid overstimulating activities. Soothing food like warm soup, gentle movement, and silent time can help. Your body trusts you when you treat it gently. Build that bond again through care, not control. Healing starts with presence. Discover everything about astrology at the Times of India , including daily horoscopes for Aries , Taurus , Gemini , Cancer , Leo , Virgo , Libra , Scorpio , Sagittarius , Capricorn , Aquarius , and Pisces .
