Trump threatens 50% tariffs on Brazil if it doesn't stop the Bolsonaro 'witch hunt' trial    Trump praises 'good English' of Liberian president, prompting criticism across Africa    Saudi, Hungarian defense ministers discuss military ties    Al-Rajhi: Cabinet's decision is supportive to most vulnerable groups    King Salman appoints Dr. Majid Al-Fayyad as Royal Court advisor    Alkhorayef emphasizes Saudi Arabia's growing role as global industrial investment hub    Saudi Arabia adopts World Drowning Prevention Day as national health priority    GACA imposes SR2.8 million in fines for 87 civil aviation violations in Q2 2025    Desperate Gaza doctors cram several babies into one incubator as fuel crisis reaches critical point    Total e-messages sent to parties in lawsuits reach over 11.8 million during first half of 2025    3 arrested in assault case in Riyadh    New Property Ownership Law will take into effect in January 2026 Al-Hogail thanks King and Crown Prince for the updated law    HONOR returns to Esports World Cup as Official Smartphone Partner for 2025 The renewed commitment will see HONOR elevate mobile esports competition with cutting-edge AI technologies and industry-leading hardware    Riot Games responds to match-fixing allegations in VALORANT    BLAST responds to BESTIA Visa controversy ahead of CS2 Austin major    Christophe Galtier named NEOM SC head coach ahead of historic Saudi Pro League debut    Michael Madsen, actor of 'Kill Bill' and 'Reservoir Dogs' fame, dead at 67    BTS are back: K-pop band confirm new album and tour    Michelin Guide launches in Saudi Arabia with phased rollout in 2025    'How fragile we are': Roskilde Festival tragedy remembered 25 years on    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Trump calls on US central bank head to quit immediately
Published in The Saudi Gazette on 03 - 07 - 2025

US President Donald Trump has called for the chair of the Federal Reserve to quit right away, in an escalation of his attacks on Jerome Powell.
"'Too Late' should resign immediately!!!", Trump said in a post on his Truth Social platform.
He also included a link to a news article about a US federal housing regulator calling for Powell to be investigated over his testimony about renovations to the central bank's Washington headquarters.
Trump nominated Powell to be the Fed chair during his first term. Since then, he has repeatedly criticised him for not cutting interest rates but it is unclear whether the president has the authority to remove him from the post.
Despite the president's continued criticism of Powell, he said earlier this year that had "no intention of firing him".
Trump wants the Federal Reserve to lower interest rates to help boost economic growth.
Powell said on Tuesday that the Fed would have cut rates already had it not been for the impact of Trump's tariff policies.
When asked during a meeting of central bankers in Portugal whether US rates would have been cut again this year if the administration had not announced its plan to sharply increase tariffs on countries around the world Powell responded, "I think that's right."
The US Federal Reserve declined to comment about Trump's remarks when contacted by the BBC.
Powell was renominated to the position by then-President Joe Biden and his current term is set to end in May 2026.
Ahead of Trump's return to power at the start of this year, Powell said he would not step down if the president asked him to and that it is "not permitted under law" for the White House to force him out.
Board members of independent federal agencies like the Federal Reserve can only be forced out before their terms expire "for cause," according to a landmark US Supreme Court ruling in 1935.
However, Trump has often challenged political norms, including firing some independent regulators, actions that have been contested in court.
On Wednesday, Federal Housing Finance Agency director Bill Pulte, who has previously strongly criticised Powell, called for him to be investigated.
"I am asking Congress to investigate Chairman Jerome Powell, his political bias, and his deceptive Senate testimony, which is enough to be removed 'for cause'," he posted on X.
Last week, Powell told the Senate that reports about soaring costs and expensive features at the Fed's headquarters were "misleading and inaccurate in many, many respects." — BBC


Clic here to read the story from its source.