Federal Reserve Chair Jerome H. Powell is resisting President Donald Trump’s calls for lower interest rates, saying the Fed should not take debt and deficits into account.

THE FEDERAL RESERVE'S political independence- the sense that the world's most powerful central bank makes decisions based on economic conditions, not short-term political considerations- is a critical national asset.

His comments follow President Donald Trump’s intensified criticism of Federal Reserve Chairman Jerome Powell, accusing him of undermining the US economy with high interest rates, while simultaneously unveiling sweeping new tariffs targeting Canada, the European Union, Mexico, and Brazil.

Jerome Powell has been the Federal Reserve Chair since February 2018. Trump nominated Powell in 2017, but now calls for him to resign. Bessent is

President Donald Trump has spent months criticizing Federal Reserve Chair Jerome H. Powell, most recently arguing that the central bank should immediately cut interest rates to make it easier for the United States to finance ballooning deficits,

President Trump has the authority to fire Federal Reserve Chair Jerome Powell for cause if evidence supports that, White House economic adviser Kevin Hassett said on Sunday, and that the Fed “has a lot to answer for” on renovation cost overruns at its Washington headquarters.