Trump’s Past Demands: A Look Back at Calls for Powell’s Resignation

In a significant escalation during his presidency, Donald Trump repeatedly called for Federal Reserve Chair Jerome Powell to resign, citing dissatisfaction with the central bank’s interest rate policies. These demands, often voiced on social media platforms like Truth Social, stemmed from Trump’s belief that lower interest rates were crucial for boosting economic growth.

The controversy intensified with calls from figures like Federal Housing Finance Agency director Bill Pulte for an investigation into Powell’s conduct and testimony regarding renovations at the Fed’s Washington headquarters. Despite Trump’s public criticisms, including a period where he stated he had no intention of firing Powell, the former president frequently challenged the independence of the Federal Reserve. Powell, who was nominated by Trump in his first term but later renominated by President Joe Biden, maintained that he would not step down under pressure, citing legal protections for independent agency heads.

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