Actually, Trump Might Have Ended Jerome Powell Without Firing Him

Sarah will have more on this later, but I wish President Trump could fire Federal Reserve Chair Jerome Powell, whom he has eloquently dubbed “too late” for his refusal to lower interest rates. The president met with Mr. Powell, touring the multi-billion-dollar renovation to the Federal Reserve Building. Trump made it clear that if a site manager were causing costs overruns, he’d fire him, a not-so-subtle swipe at Mr. Powell (via CNBC):

President Donald Trump and Federal Reserve Chairman Jerome Powell went back and forth in front of the press Thursday over Trump’s claims about cost overruns at the Fed headquarters in Washington.
The stunning side-by-side took place as Trump began touring the Fed building in what is widely seen as the latest chapter in his pressure campaign to get Powell to lower interest rates or resign as the central bank chairman.
But Trump also suggested that he was abandoning any consideration of firing Powell, despite floating that unprecedented and legally contested idea earlier this month.
“To do that is a big move, and I just don’t think it’s necessary,” Trump told reporters at a separate press gathering after his brief spat with Powell.
He added, “I believe that he’s going to do the right thing.”
The president’s visit to a construction site at the Fed on Thursday afternoon came as his administration has recently homed in on the costly renovations of two historic central bank buildings in D.C.
Shortly after his arrival, Trump and Powell were seen touring the site together, both wearing white hard hats.

He also joked with the chairman, saying that he wished he would cut interest rates, slapping him on the back in the process. Powell looked immensely uncomfortable during this part of the tour. He knows that while Trump can’t fire him, if a shooting ever erupted between the two men, the president would win. He always wins.

Absolutely incredible…

TRUMP: WELL I WOULD LOVE POWELL TO LOWER INTEREST RATES

*slaps him on the back* pic.twitter.com/X6wLDYWKeq
— Geiger Capital (@Geiger_Capital) July 24, 2025

He owned him. The liberal media is harping on a moment when Powell pushed back on some of the costs of the project or something. I don’t know—it’s not relevant. Trump got the final word, took over the spot, and owned Powell. He’ll likely serve out the remainder of his term, but as Kellyanne Conway said tonight, the worst thing Trump could do to someone with these bureaucratic protections on their employment is to make them irrelevant. The president might have set that into motion today. He’s going to let Powell die on the vine.

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