Trump claimed that it was former President Joe Biden who appointed Powell to be head of the Federal Reserve. However, Powell was initially appointed to the role by Trump during his first term in 2018 and was reappointed by Biden in 2022.

There could be a revolt in global markets, including a possible collapse in the dollar and US bonds, if President Donald Trump were to take the unprecedented step of removing Federal Reserve Chair Powell from the helm of the central bank,

Trump denies plans to fire Fed Chair Jerome Powell, despite past tensions and market uncertainty over monetary policy

U.S. President Donald Trump says the Federal Reserve should set its benchmark interest rate at 1% to lower government borrowing costs, allowing the administration to finance the high and rising deficits expected from his spending and tax-cut bill,

President Donald Trump’s pressure campaign against the Federal Reserve and Chair Jerome Powell to lower interest rates entered a new front this week

The central bank is quietly pushing back with a new “Frequently Asked Questions” page on its website defending the central bank’s renovation.

The president floated the idea of firing the Fed chief to lawmakers, then said such a move was "very unlikely."