Mahmoud Ahmadinejad
سپاه پاسداران انقلاب اسلامی
Trump lashes out on Truth Social with bonkers theory
Donald Trump proposed a wild theory about why Federal Reserve Chairman Jerome Powell chose to stay on as a governor.
Trump, 79, posted on Truth Social about Powell after the 73-year-old confirmed that he would remain a governor on the central bank’s board after his term as chairman expires on May 15.
Powell’s announcement surely irked Trump, who has continually called for his exit, citing his refusal to lower interest rates, which Powell did again on Wednesday. But now Powell is set to be on the board until January 2028, denying Trump a vacancy to fill.
“Jerome ‘Too Late’ Powell wants to stay at the Fed because he can’t get a job anywhere else — Nobody wants him," Trump claimed.
Powell, 73, has been chairman of the Federal Reserve since 2018, after Trump nominated him to replace Janet Yellen. He has been on the Board of Governors since 2012, having been nominated by Barack Obama. An attorney and registered Republican, Powell previously worked in the Treasury Department during the George H. W. Bush administration.
On Wednesday, Powell explained that his decision to remain on the board—an untraditional move for a chairman—was due to Trump’s attacks on the Federal Reserve Bank.
"I worry that these attacks are battering the institution and putting at risk the thing that really matters to the public, which is the ability to conduct monetary policy without taking into consideration political factors,” Powell said at a news conference. “
Trump's Justice Department dropped its investigation into renovations of the Federal Reserve building in downtown Washington, as well as Powell’s testimony about it. A federal judge had previously thrown out DOJ subpoenas related to Trump's case probe for lack of merit.