Trump Says Powell Will Be Out Soon: ‘The Job He’s Done Is Just Terrible’

President Donald Trump on Tuesday renewed his attacks against Federal Reserve Chair Jerome Powell, stating that the central bank head would be “out pretty soon” once his term comes to an end in May 2026.

“I think he’s done a bad job,” said Trump. “He's going to be out pretty soon anyway. In 8 months, he'll be out."

Trump emphasized that he’s repeatedly asked ‘Too Late’ Powell to lower interest rates, citing Europe’s consecutive rate cuts in comparison. 

“The job he’s done is just terrible,” Trump said, stating that the U.S. should be at a 1% rate instead of 4%. “With the striking of a pen, we would be saving more than $1 trillion.”

He also criticized the recent renovations at the Federal Reserve headquarters, which cost $2.5 billion. “They don’t do anything,” Trump said. “It’s the greatest job.”

U.S. Treasury Secretary Scott Bessent, who was also present at the White House press briefing, stated that he has requested the Federal Reserve to conduct an internal investigation. "I called yesterday and this morning for the Fed to do a big internal investigation to understand not their monetary policy, but everything else,” he said. 

U.S. equity markets were trending lower in midday trade on Tuesday. The SPDR S&P 500 ETF (SPY) was down 0.22%, while the Invesco QQQ Series 1 Trust (QQQ) fell 0.77%. The SPDR Dow Jones Industrial Average ETF (DIA) edged 0.03% lower.

Despite the broader market weakness, retail sentiment on Stocktwits regarding SPY moved higher to the ‘bullish’ zone, up from ‘neutral’ the day before.

Read also: Trump Says US Nearing ‘Big’ Trade Deal With Philippines

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