Donald Trump escalated his criticism of Federal Reserve Chair Jerome Powell by posting a digitally illustrated meme of himself firing Powell.
Author: Sahil Thakur
28th September 2025 – President Donald Trump escalated his criticism of Federal Reserve Chair Jerome Powell by posting a digitally illustrated meme of himself firing Powell. The image, shared on Truth Social on Saturday, shows Trump pointing and declaring “You’re Fired!” as Powell holds a box of personal items in front of the Federal Reserve seal.
This post adds to months of public pressure from Trump, who has openly criticized Powell for not cutting interest rates aggressively. Despite the Fed’s decision earlier this month to lower rates for the first time this year, Trump maintains Powell is acting too cautiously.
The Federal Reserve signaled possible additional cuts in October and December. Yet, Trump remains dissatisfied, branding Jerome as “too slow” and even nicknaming him “Too Late Powell.” His administration has also raised concerns about the Fed’s hesitance in reducing rates amid ongoing trade negotiations and global economic uncertainty.
Powell, on the other hand, emphasized the central bank’s independence during a recent appearance at the Greater Providence Chamber of Commerce.
“We’re just not looking at things that way,” Powell said when asked about political pressure. “We just do our jobs, we keep our head down and do our jobs.”
In recent weeks, Trump has taken additional steps that some interpret as attempts to gain influence over the Fed. He tried to remove Fed Governor Lisa Cook, citing allegations of mortgage fraud. He also appointed Stephen Miran, Chair of the White House Council of Economic Advisers, to a temporary Fed board seat.
While the Cook case remains pending before the Supreme Court, the Department of Justice has stated that her removal would not disrupt financial markets. However, Cook’s legal team argues that her dismissal could undermine the independence of the central bank.
Sources: The Atlantic, Reuters, AP, Barron’s, Brookings, Wikipedia
Despite the provocative meme, Trump does not have the authority to unilaterally fire the Fed chair. A recent Supreme Court ruling reaffirmed that presidents cannot remove Federal Reserve officials at will. Powell’s term runs through May 2026.
Although past presidents have criticized Fed chairs, none have attempted to remove one from office. Trump’s latest move appears symbolic but underscores growing tensions over monetary policy.
So far, markets have remained largely indifferent to these political developments. However, some economists warn that replacing Powell prematurely could damage the Fed’s credibility and potentially drive long-term interest rates higher. Such a shift could raise concerns about political interference in monetary policy and weaken the Fed’s commitment to its dual mandate: stable inflation and full employment.
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