Donald Trump lit up Jerome Powell in a recent press gaggle, calling him “Too Late Jerome” for failing to cut rates when America needed it most. Trump said Powell only dropped rates “just before the election to try and help Kamala or Biden—or whoever the hell it was,” mocking his timing as both political and useless. According to Trump, Powell’s delays cost Americans billions, hurt homebuyers, and proved he’s been out of his depth all along.
Powell’s $2.5 Billion “Nest Egg”
Trump didn’t stop at rate hikes. He went scorched earth on Powell for the Fed’s $2.5 billion renovation project, pointing out a staggering $900 million cost overrun. Trump labeled it Powell’s “nest egg,” saying the real crime is the higher interest rates strangling the economy. He estimated lower rates could save America a trillion dollars annually, suggesting Powell’s incompetence is robbing taxpayers blind while he builds himself a palace.
Is Firing Powell Off the Table?
Trump said he’s “not planning” to fire Powell—for now. But his tone felt more like a warning shot than a guarantee. He teased that “we get to make a change in eight months” and floated potential replacements like Scott Bessent and Kevin Warsh. He even added with trademark sarcasm, “It’s not a tough job… unless you’re a dummy,” leaving little doubt about his opinion of Powell’s performance.
The Media’s Predictable Meltdown
As usual, the media is frothing at the mouth, framing Trump’s comments as a threat to Fed independence and economic stability. But no one seemed concerned about Fed independence when Biden reappointed Powell, or when the Fed printed trillions under Obama. Suddenly, the same people who praise bureaucratic overreach are terrified that Trump might bring accountability to the ivory tower.
Will Trump Actually Fire Powell?
Here’s the truth: Trump probably won’t need to fire Powell because his term as Fed Chair is up in early 2026, just over a year into Trump’s potential second term. But don’t be shocked if Trump finds a “for cause” excuse if Powell keeps bungling the job or defending that $2.5 billion boondoggle. Trump doesn’t bluff forever—ask Jim Comey.
WE’D LOVE TO HEAR YOUR THOUGHTS! PLEASE COMMENT BELOW.
JIMMY
Find more articles like this at steadfastandloyal.com.
h/t: Steadfast and Loyal