# Trump Criticizes Federal Reserve Chair Jerome Powell, Predicts Early Departure

Former U.S. President Donald Trump has revived his criticisms of Federal Reserve Chair Jerome Powell, asserting that Powell might step down within the next eight months. This claim comes despite Powell’s official term as Chair running until May 15, 2026, leaving more than two years for him to complete his tenure. Even after relinquishing his role as Chair, Powell is set to remain on the Federal Reserve Board until 2028.

Trump made these remarks during a meeting at the White House with Philippine President Ferdinand Marcos Jr., commenting, “Powell has done a bad job, but he’s about to leave anyway. [He’s] done in eight months.”

# Trump Renews Pressure on Powell and Floats Criticism of His Leadership

Trump's history of criticism toward Powell stretches back to his own presidency, during which he persistently pressed the Fed Chair to lower interest rates. At one point, Trump even suggested removing Powell from his position. However, doing so faces significant legal hurdles, as the Federal Reserve Act stipulates a Fed governor can only be removed "for cause," requiring solid grounds for dismissal.

Additionally, Trump previously demanded an investigation into renovation expenses at the Federal Reserve’s Washington, D.C. headquarters, a move widely perceived as an attack on Powell. Despite these criticisms, Powell has remained firm about his commitment to serving his full term as Federal Reserve Chair.

# How Federal Reserve Leadership Operates

Appointments to Federal Reserve leadership roles involve nomination by the sitting President and confirmation by the Senate. The Chair and two Vice Chairs serve renewable terms of four years. Jerome Powell, originally appointed as a Fed governor by President Barack Obama, was elevated to Fed Chair by Trump. He currently oversees decisions made by the Federal Reserve. Vice Chair Michelle Bowman is also a Trump appointee.

Apart from Board leadership, the 12 regional Federal Reserve Bank presidents are appointed by private boards but require authorization from the Fed's Board of Governors. These regional presidents typically serve until the age of 65, though individuals appointed post-55 may serve for up to 10 years.

The Federal Reserve Board of Governors, which sets the long-term direction for monetary policy, comprises officials serving staggered terms that limit any single president’s influence. Current governors include Lisa Cook (term through 2038), Adriana Kugler (term ending 2026), Christopher Waller (term extending to 2030), and Michael Barr (term concluding in 2032). Given this structure, Trump’s ability to shape the Fed’s policies in the long term appears restricted.

# Resignation Rumors About Powell Dismissed Amidst Speculation

In recent years, Trump has accused Powell of withholding interest rate cuts for political purposes, contrasting Powell’s cautious approach with the aggressive monetary easing in Europe. Trump has consistently reiterated his preference for a Fed Chair focused on lower interest rates, a stance he believes aligns with broader economic growth.

More recently, rumors circulating on social media about Powell’s potential resignation have been dismissed as unfounded. Federal Reserve insiders confirm that Powell is fully committed to completing his tenure and has not engaged in any discussions about stepping down. For now, Powell remains focused on his mission to lead the Federal Reserve through evolving economic challenges.

Enhancing Economic Leadership Amid Criticism

As the Federal Reserve navigates a complex economic landscape, Powell’s leadership remains under heavy scrutiny from Trump and occasional online speculation. However, the Fed Chair has shown resilience in maintaining an independent course, prioritizing economic stability over politics.