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April 17, 2025
President Trump took to Truth Social today to blast Federal Reserve Chair Jerome Powell, a day after the Fed chairman warned Trump's tariff regime could reignite inflation.
Via Axios
Powell's assessment was a "typical, complete 'mess!,'" Trump wrote, adding, "Powell's termination cannot come fast enough!"
Context: The Federal Reserve Act, which established the Fed more than a century ago, spells out that the central bank's governors are to serve 14-year terms. They can only be dismissed for cause, which courts have generally interpreted to mean malfeasance, not policy disputes.
Powell, whose term runs through May 2026, has said removal of top officials from the independent central bank is "not permitted under the law."
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