Angered about interest rates, President Trump lashed out at Federal Reserve Chairman Jerome Powell Thursday, saying the central banker’s “termination cannot come fast enough!”

In a dramatic display of frustration, former President Donald Trump called for the ousting of Federal Reserve Chairman Jerome Powell over his policy on interest rates. Unlike many of his predecessors, who typically maintained a calculated distance from the central bank to uphold its independence, Trump has publicly criticized Powell, revealing his vested interest as a billionaire with extensive real estate holdings. Trump's economic strategies have long focused on benefiting from lower interest rates, a request he has reiterated during his presidency and beyond. This latest outburst may be influenced by his considerable $645 million portfolio of variable-rate debt, which has suffered increased interest payments due to the Fed's rate hikes. Historically, Trump appointed Powell in 2017 and has since pressured him to lower rates, viewing higher interest as detrimental to his financial empire. Trump's tactics included directly communicating with key officials like Secretary of Commerce Wilbur Ross to influence Powell's decisions, showing a willingness to circumvent the standard norms of presidential respect for Fed independence. Trump's long-standing belief in manipulating interest rates to serve his business interests reflects a broader commentary on how personal finances can intertwine with national economic policy. However, his riskier financial maneuvers, such as converting fixed loans into variable-rate loans during a volatile economic climate, illustrate his underestimation of inflation trends. This dynamic ultimately leads to increased costs and profit reduction for Trump, making his recent demands for lower rates more telling of his financial strategy amid growing concern about rising inflation. Trump’s comments hint at a tense relationship with the Fed, raising the question of whether he would pursue Powell's dismissal or if this is merely another strategic move to apply pressure. As Powell's term as chair runs until May 2026, there is speculation that Trump is hoping to install someone more aligned with his interests in the future.