Trump Says He Won’t Fire Powell, But ‘May Have to Force Something’ on Rates

Vice President JD Vance and others have weighed in on the Fed’s decision-making.

Federal Reserve Chairman Jerome Powell testifies before the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill in Washington on Feb. 11, 2025. Madalina Vasiliu/The Epoch Times

President Donald Trump has ratcheted up his criticism of Federal Reserve Chair Jerome Powell.

Speaking at a June 12 White House event, the president demanded again that the U.S. central bank chief lower interest rates. He projected that reducing rates by two percentage points would save the United States $600 billion annually.