- Trump met with Fed Chair Powell, criticizing him for not cutting interest rates.
- Despite tension, the White House says Trump doesn’t plan to fire Powell.
- Powell reiterated that future rate moves depend on economic data, not politics.
President Trump and Fed Chair Jerome Powell finally sat down for a face-to-face at the White House on Thursday, but the vibes? Still frosty. Trump’s been railing against the Fed for months now, mainly for holding interest rates steady while other countries, in his words, are “eating our lunch.” The meeting was reportedly Trump’s idea, aimed at discussing “economic developments,” including jobs, inflation, and growth.
White House press secretary Karoline Leavitt told reporters that Trump didn’t hold back. He told Powell point-blank that not cutting rates was a mistake and that it’s putting the U.S. at a disadvantage compared to places like China. Classic Trump—he’s been on this kick since early in his first term and shows no sign of letting it go.
Still, when pressed on whether Trump plans to replace Powell or push him out, Leavitt gave a flat “no.” Powell, for his part, didn’t spill much. The Fed said he reiterated the usual line—that rate decisions depend on incoming data and the broader economic outlook. No surprises there.
Past Shade and Present Pressure
This meeting came just weeks after Powell told reporters he hadn’t asked for any presidential meetings—ever—and wasn’t about to start now. When Trump was asked if he’d reach out to Powell, he basically shrugged it off, calling it “like talking to a wall.” So, yeah, not exactly warm feelings between the two.
Trump, who originally tapped Powell for the top Fed job back in 2017, hasn’t been shy with his jabs. He’s called him “Too Late” and even “a fool,” slamming the Fed for dragging its feet on rate cuts while inflation remains mostly under control. Powell, meanwhile, has defended the decision to pause, saying it’s better to wait and watch how Trump’s own policies—like trade tariffs and tax tweaks—play out first.
No Firing… Yet
Speculation swirled last month that Trump might try to can Powell altogether. That move would’ve been legally murky at best and politically explosive. But Trump walked it back, saying he’s not planning to fire the guy—at least not right now. Still, the pressure’s building.
Vice President J.D. Vance has also chimed in, calling Powell a “nice guy” who’s been “wrong about almost everything.” Not exactly a confidence booster, huh? If Powell was hoping for some space to make decisions free of politics, well… he’s not getting it in this White House.
