President Donald Trump on Friday called for the Federal Reserve’s board of governors to strip Fed Chair Jerome Powell of his power.

On his Truth Social platform, Trump once again criticized Powell for not lowering interest rates at the board of governors meeting this week, calling him "stubborn." Trump has been verbally attacking Powell for months.

What did Trump say about Jerome Powell?

What they're saying:

Trump said if Powell doesn’t "substantially" lower rates, "THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!"

President Donald Trump delivers remarks alongside Sen. Tim Scott (R-SC) (L) and Federal Reserve Chair Jerome Powell, as they tour the Federal Reserve’s $2.5 billion headquarters renovation project on July 24, 2025 in Washington, DC. The Trump a

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