Trump Threatens to Replace Fed Chair Powell, Pushes for Aggressive Rate Cuts

President TRUMP has declared his intention to replace Federal Reserve Chair Jerome Powell, naming former Fed governor Kevin Warsh as a likely successor. Trump criticized Powell's reluctance to cut interest rates aggressively, calling for a full percentage point reduction to stimulate the economy. "He’s costing our Country a fortune," Trump posted on Truth Social, emphasizing that borrowing costs "should be MUCH LOWER!!!"

Despite stronger-than-expected jobs data—139,000 new positions in May, surpassing the 125,000 forecast—Trump remains adamant about the need for immediate action. "Go for a full point, Rocket Fuel!" he urged, dismissing the positive employment figures. The president’s push for looser monetary policy underscores his preference for a Fed chair who aligns with his economic agenda, with Warsh emerging as the frontrunner.