Fed Chair on Edge: Who is Jerome Powell, has been leading the American Federal Reserve since 2018? Why does Trump want to fire him and end his streak

US President Donald Trump has once again targeted the Federal Reserve Chairman Jerome Powell, indicating that he can remove them from the role if he is re -elected. Trump has criticized Powell for a long time increase in interest rate and now claims that the top central banker is hindering economic growth.

Who is Jerome Powell? Why does Trump want him to leave?

Jerome Powell, who has led the US Federal Reserve since 2018, is an important person in shaping the country’s monetary policy. Powell was initially praised by the Maga chief, appointed by Trump himself. However, their relationship became sour when Fed increased interest rates in the office during Trump’s tenure.Trump argues that those rate hikes were unnecessary and blamed Powell for making Americans and businesses difficult to borrow. Since starting his 2024 campaign, Trump has not supported. He has instigated the idea of firing Powell before the end of his current term in 2026, suggesting that he would change it with someone formed with his economic agenda.“If he wins, he could set Pavel on fire before his term ends in 2026,” says Trump’s associates. Trump believes that a new fed chair will favor lower rates and push for what he describes as a more “pro-goth” policy approach.Such a step will be controversial. The Federal Reserve is to operate independently of the White House, ensuring that the political pressure does not affect the decisions of the interest rate. Although the President nomates the Fed Chairman, the law only allows the removal of “for reason”, which means neglect of misconduct or duty, not policy disagreement.Financial experts warns that an attempt to dismiss Powell may shake investors’s confidence and disrupt financial markets. Trump, however, emphasized Pavel’s decisions that common Americans are hurt. “We do not commit crime and that is what units,” Trump recently spoke about the widespread requirement of national unity and law and order.Under Powell, the Federal Reserve has raised interest rates to deal with high inflation, especially after the Kovid -19 epidemic. While this strategy has reduced inflation, it has also increased the cost of borrowing, affecting homebuilders, credit card holders and small businesses.Powell, for its share, says that the tasks of the fed are powered by data, not from politics. “But it’s not we are. The law of law units us as Americans,” he said, defending the role of a central bank in maintaining long -term economic stability.Although some accused Republican Trump and Powell of Overch, many people in the financial world support the central bank keeping free from political intervention.