Trump's Pressure on Powell: A Call for Resignation and Rate Cuts

U.S. President Donald Trump expressed his desire for Federal Reserve Chair Jerome Powell to resign, citing dissatisfaction with his management of interest rates. Trump advocates for a rate cut to 1%, criticizing Powell's leadership and suggesting a successor to align with his economic goals.

U.S. President Donald Trump intensified his criticism of Federal Reserve Chair Jerome Powell on Friday, suggesting he would welcome Powell's resignation amid disagreements over interest rate policies.

Trump's call for Powell to step down comes with accusations of 'Trump Derangement Syndrome,' as the President pushes for a rate cut to 1% from the existing 4.25%-4.50% range. Powell's leadership and policy decisions have become a point of contention, with Trump vowing to nominate a successor keen on reducing rates.

The President's ongoing clashes with Powell underscore the tension between the administration and the traditionally independent Federal Reserve, raising questions about the future of U.S. monetary policy and presidential influence.

(With inputs from agencies.)