U.S. Senator John Kennedy (R-LA) was asked on Sunday’s edition of Meet the Press if he would support President Donald Trump removing Jay Powell from his position as Federal Reserve Chairman. (Trump appointed Powell during his first term, but has consistently criticized him during his second administration.)
Note: White House economic adviser Kevin Hassett said on Friday that the Trump administration would “continue to study” whether Trump could fired Powell.
President Trump calls Federal Reserve chair Jay Powell “Mr. Too Late” and “a major loser.” pic.twitter.com/klzIvpRGyg
— Kaitlan Collins (@kaitlancollins) April 21, 2025
Kennedy said on Meet the Press: “I don’t think the President—any President—has the right to remove the Federal Reserve Chairman. I think the Federal Reserve ought to be independent.”
He added: “I think Jay Powell and President Trump need to sit down and, once again, have a hug and a cup of hot cocoa and work it out.”
Sen. John Kennedy: “I don’t think the President—any President—has the right to remove the Federal Reserve Chairman … I think Jay Powell and President Trump need to sit down and, once again, have a hug and a cup of hot cocoa and work it out.” pic.twitter.com/tMT0KekxND
— The Post Millennial (@TPostMillennial) April 20, 2025
Trump, who wants the Fed to lower interest rates — particularly after the White House levied sweeping tariffs against dozens of countries — again criticized Powell this morning on social media by referring to the Fed Chair as “Mr. Too Late, a major loser,” for not lowering interest rates. (Trump points out that Europe has lowered rates and insists that the U.S. should follow suit.)
While some MAGA supporters are replying to Kennedy’s comments by insulting him with the moniker “RINO” because he doesn’t agree with President Trump on the issue, other MAGA supporters agree with the Senator, as one replied: “I am a big Trump supporter AND agree with @SenJohnKennedy on Powell relationship. BOTH can be true at the same time.”
A Democrat also noted his agreement with Kennedy’s opinion, writing: “I hate when I agree with this creep but he is correct here.”
Powell said last week that the Fed wouldn’t jump in to prop up markets roiled by reactions to Trump’s trade war, since “markets are doing what they’re supposed to do.”
Rajan: Some people believe the fed will intervene if the stock market plummets. Are they correct?
Mr. Powell: I’m going to say no, with an explanation.. pic.twitter.com/wr6LrvUz0j
— Acyn (@Acyn) April 16, 2025
Powell told the Economic Club of Chicago: “Markets are processing what’s going on. It’s really the policies, particularly the trade policy. The question is where’s that going to land? And we don’t know that yet. And until we know that you can’t really make informed assessments that would still be highly uncertain once you know what the policies are… So markets are struggling with a lot of uncertainty and that means volatility.”