Jerome Powell has once again proven that he’s not just “too late”—he’s too arrogant, too political, and too blind to the economic reality millions of Americans are living every day. President Trump is absolutely right to call him out. Powell’s refusal to cut interest rates, despite overwhelming evidence that the economy is ready to roar, is nothing short of economic sabotage dressed up as “independence.”
Let’s be clear: this isn’t the first time Chairman Powell has failed the American people. Since the beginning of President Trump’s second term, Powell has stubbornly clung to high interest rates, stifling growth, burdening borrowers, and costing the country—according to Trump—over a trillion dollars annually in unnecessary debt payments. That’s not fiscal responsibility. That’s fiscal insanity.
“Jerome ‘Too Late’ Powell has done it again!!!” Trump wrote on Truth Social. “He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair.” Harsh? Maybe. But is it wrong? Not even slightly.
Let’s look at the facts. Despite inflation being largely under control and the labor market showing resilience, the Federal Reserve chose to keep interest rates locked in the 4.25 to 4.5 percent range. That’s the highest it’s been in years. Two dissenting members of the board—both Trump appointees—called for a modest 25 basis point cut. They get it. They see what Powell refuses to: the cost of borrowing is choking off economic momentum, and ordinary Americans are paying the price.
Powell’s defenders argue that the Fed must remain independent, above politics. But let’s not kid ourselves—Powell has already politicized the Fed by playing footsie with the media narrative and dragging his heels. “The Fed’s mission,” they say, “is to manage inflation and employment for the long term.” Okay—then where’s the long-term thinking when it comes to the crushing interest rate burden on small businesses and working families?
Powell’s defenders like to hide behind process, but process without performance is worthless. The Fed’s own modernization project—a $2.5 billion renovation of its D.C. headquarters—is now mired in delays and cost overruns. President Trump rightly called it “one of the most incompetent, or corrupt, renovations of a building(s) in the history of construction!” He’s not exaggerating. If Powell can’t manage a building renovation, how can we trust him to manage the most powerful central bank in the world?
Here’s the bigger truth: Powell’s refusal to cut rates isn’t just bad policy—it’s political obstruction. The Biden-era bureaucrats embedded in the system are terrified of a booming Trump economy heading into the 2026 midterms. They know that lower rates could unleash a wave of prosperity that would demolish their narrative. And Powell, whether out of cowardice or complicity, is playing along.
This is why Trump’s pressure matters. It’s not just about one man—it’s about breaking the grip of the permanent D.C. class that’s used institutions like the Fed as a shield against electoral accountability. The American people didn’t elect Jerome Powell. They elected Donald J. Trump, twice. And they expect results.
Powell’s defenders warn that firing him would “erode confidence” in the Fed. Let me ask: what confidence? Confidence in a chairman who ignores data? Confidence in a board that’s more worried about pleasing The New York Times editorial board than the American worker? Confidence in a system that punishes growth and rewards stagnation?
Exactly which part of that are we supposed to protect?
Ultimately, Powell’s term ends in May 2026. President Trump has said it’s “unlikely” he’ll fire him—but let’s be honest, the pressure is working. And it should continue. If Powell won’t cut rates, he should resign. If he won’t resign, he should prepare to be replaced.
The American economy is poised for a second Trump boom. We don’t need a Fed Chair who drags his feet and makes excuses. We need bold leadership, clear vision, and a commitment to putting America First.
Jerome Powell has failed that test. It’s time for him to go.
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Author: rachel
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