I'm not satisfied with him, he's been made aware of that. And if I want to get rid of him, he'll disappear quickly, believe me, says Trump at a press conference at the White House.
The President has the authority to initiate a longer process to replace the politically appointed governors in the central bank's board, if there are reasons to do so. However, a president forcing a central bank chief to resign has never happened before in the USA.
The outburst follows Trump's post on the Truth Social platform earlier on Thursday, where he accused Powell of acting incorrectly regarding the interest rate. Trump wrote that he cannot disappear "fast enough".
In the post, where he mentioned that the European Central Bank ECB is once again expected to lower the interest rate, he writes that Powell always acts "TOO LATE AND WRONG".
Jerome Powell warned in a speech on Wednesday that the trade war could fuel American inflation and reduce economic activity in general.
Donald Trump has repeatedly urged Powell to lower the interest rate. The central bank has, however, taken a cautious stance and has kept the interest rate at 4.25 to 4.5 percent since the turn of the year.
