🇺🇸 Trump Threatens to Fire Fed Chair Powell—France Responds
In a move that has stirred financial circles globally, President Donald Trump has once again expressed frustration with Federal Reserve Chairman Jerome Powell, even suggesting he might remove him from the role. In response, France’s Finance Minister Eric Lombard has voiced strong opposition, stating such a decision would damage the credibility of the US dollar.
⚠️ A Blow to Dollar Confidence
Lombard emphasized that Trump's aggressive trade and monetary interventions have already shaken investor confidence in the dollar. Removing Powell, who was appointed by Trump himself in 2018, could lead to a surge in bond market volatility, rising borrowing costs, and deepening distrust in US financial governance.
“Confidence in the dollar is already fragile—firing Powell would destroy what remains,” Lombard warned.
🇪🇺 Europe Speaks Out
It's rare for a senior European official to criticize US domestic policy so directly. But with Trump recently slapping a 10% tariff on EU goods, tensions are high.
Lombard urged European businesses to demonstrate "economic patriotism" and back EU efforts to counter unfair US trade practices. French billionaire Bernard Arnault, head of LVMH, also suggested that Europe should take a firmer stance.
🔍 Can Trump Actually Fire Powell?
While Trump has repeatedly expressed his dissatisfaction with Powell’s policies, legal experts debate whether the president can actually fire the Fed Chair before the end of his term. The Federal Reserve is meant to operate independently from political pressure—a principle now under threat.
“If I want him gone, he’ll be gone fast,” Trump reportedly said.
So far, Powell has remained silent, continuing his work amid political pressure.