Trump Stirs Pot in Feud With Powell via Truth Social Post

President Donald Trump on Saturday afternoon stirred the pot over his feud with Federal Reserve Chair Jerome Powell by posting a cartoon on Truth Social that showed him firing the head of the central bank.

The post shows a cartoon of Trump saying "You're Fired!" to a glum-looking Powell holding a box of his office belongings. Trump has previously flirted with the idea of firing Powell, whose term as chair expires in May 2026. Powell has repeatedly said he plans to remain in office through then.

The Federal Reserve Board declined to comment.

The White House didn't immediately respond to a request for comment.

Trump has taken more formal actions to terminate Federal Reserve Gov. Lisa Cook, with the president attempting to terminate her in August. Cook has challenged the move and was reinstated by lower courts, who cited a likely violation of her right to due process. The case is now before the U.S. Supreme Court, which is expected to rule quickly.

What's more, the president recently nominated Council of Economic Advisers chair Stephen Miran to fill a temporary spot on the Federal Reserve's board of governors.

Miran was confirmed by the Senate, and shortly after voted his dissent with the board's 25 basis-point cut in his first Federal Open Market Committee meeting this month. Miran has taken a leave of absence from his role at the CEA.

Trump's efforts reflect his desire to put his own stamp on the Federal Reserve. He has said repeatedly that he wants the central bank to lower interest rates to reduce borrowing costs.

The stock market's strong showing in recent months indicates that investors may not be as concerned about the potential loss of Fed independence as anticipated, Barron's Matt Peterson reported this month .

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