By JOSH BOAK, Associated Press

WASHINGTON (AP) — President Donald Trump on Friday called for the Federal Reserve’s board of governors to usurp the power of Fed Chair Jerome Powell , criticizing the head of the U.S. central bank for not cutting short-term interest rates.

Posting on his Truth Social platform, Trump called Powell “stubborn.” The Fed chair has been subjected to vicious verbal attacks by the Republican president over several months.

Federal Reserve Chairman Jerome Powell, speaks during a news conference following the Federal Open Market Committee meeting, Wednesday, July 30, 2025, in Washington. (AP Photo/Manuel Balce Ceneta)

The Fed has the responsibility of stabilizing prices and maximizing employment. Powell has held its benchmark rate for overnight loans constant thi

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