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Fed, Trump 'considers' firing Powell. Protests across America today

After the statements made with Meloni, the White House staff opens the door to the governor's removal. Meanwhile, the Morocco case explodes among the Maga

18 April 2025

Il capo della Fed Jerome Powell nel mirino di Trump

2' min read

Key points

The attacks of the past weeks
The rate node
Morocco's 'dismissal'
New weekend protests

2' min read

The Trump administration is considering the dismissal of Federal Reserve Chairman Jerome Powell. This was hinted at by White House economic adviser Kevin Hassett who, when asked whether a change at the top of the US central bank was an option, replied that 'the president and his team will continue to study the issue'.

Hassett's statement comes after, on Thursday 17 April, Trump further raised the level of confrontation with the Fed chairman, accusing him of "playing politics" for not cutting interest rates and claiming he had the power to oust him from office "very quickly".

The attacks of the past weeks

Already in recent weeks Trump had severely criticised Powell's work, calling on the president to "not play politics" and cut interest rates. The latest tirade came on Thursday, after a meeting at the White House with Italian premier Giorgia Meloni. "I'm not satisfied" with Powell, the tycoon told reporters in the Oval Office. "He's not doing his job." The Fed number one could leave his post "if I asked him to," Trump hinted.

The rate node

"The only thing that has gone up, really," the president later lamented, "is interest rates. Because we have a Federal Reserve chairman who is playing politics. A person I never liked very much, but he is playing politics. Interest rates should be lowered now. They should go down. In Europe, as you know, they lowered them, I think, seven times,' Trump explained.

"It looks like they will reduce them again and again and again. Our man wants to be smart, but interest rates are more or less even. But that is due to the Federal Reserve where there are not very smart people." Powell has led the US central bank since 2018 and it was Trump himself who had appointed him, during his first presidential term.

Morocco's 'dismissal'

These rumours are coupled with the sudden dismissal of Peter Marocco, the official appointed by Trump to dismantle the Usaid agency (United States Agency for International Development), the body responsible for international aid. A move that is causing a political earthquake within the administration and among the supporters of the Maga movement themselves.

Morocco, a central figure in the reorganisation of US foreign aid, was removed last week by Secretary of State Marco Rubio, after growing internal tensions. According to Politico, which reconstructed the affair with confidential sources, 'he is the first Maga victim from inside the White House'. A blatantly victimised: Morocco was in fact blocked at the entrance of the State Department without warning, after a last meeting at the White House.

New weekend protests

Meanwhile, hundreds more anti-Trump protests are planned across the US tomorrow organised by the 50501 movement (50 protests, 50 states, 1 movement). The Washington Post reports. "Our movement shows the world that the American working class will not stand idly by while plutocrats destroy their democratic institutions and civil liberties while undermining the rule of law," reads the group's website. More than 400 events are planned for tomorrow (Saturday 18 April) across the country, including rallies, protests and food collections. The first protests of the 50501 movement took place on 5 February, while a fortnight ago there was another large mobilisation called "Hands off", culminating in a rally in Washington.