- Karoline Leavitt criticized high interest rates, calling them a major hurdle for Trump’s agenda.
- Trump’s handwritten note slammed Jerome Powell, urging a rate cut to 1% or lower.
- When pressed on why Powell hasn’t been fired, Leavitt said that decision rests with the president.
White House Press Secretary Karoline Leavitt didn’t hold back on Monday, calling the Federal Reserve’s current interest rates a “significant problem” for the Trump administration’s policy efforts—even as inflation trends lower. Despite the cooling prices, she made it clear: high borrowing costs are still very much in the way.
To really drive the point home, Leavitt held up a printed copy of a handwritten note from President Donald Trump to Fed Chair Jerome Powell. And yeah, it was vintage Trump. The note read:
“Jerome ‘Too Late’ Powell, and his entire Board, should be ashamed of themselves for allowing this to happen to the United States. They have one of the easiest, yet most prestigious, jobs in America, and they have FAILED… We should be paying 1% Interest, or better!”
The message underscored Trump’s growing frustration with Powell, whom he’s criticized before—but this time with a sharp personal jab and a clear demand for rate cuts.
So… Why Not Fire Him?
When asked directly why President Trump hasn’t just fired Powell, Leavitt deflected slightly. “It’s a good question and one you can ask the president,” she said. “That’s a decision for him to make.”
It’s worth noting: firing a sitting Fed Chair isn’t exactly straightforward. The central bank operates independently, and while the president can appoint the chair, removing them mid-term without just cause would likely spark a legal and political firestorm.
Still, the pressure campaign seems to be escalating. With Trump eyeing looser monetary policy to juice the economy before the next election cycle, the clash with the Fed could get even louder.
