Trump's Call for Powell to Resign Creates Tension
Introduction
President Donald Trump has once again called for Jerome Powell, the head of the US central bank, to resign from his role immediately. This is not the first time that Trump has criticized Powell for not cutting rates, but his recent comments have sent mixed signals about potentially removing him from his position.
Background
Trump's call for Powell to step down comes at a time of increasing tension between the White House and the Federal Reserve. The president has accused Powell of hindering economic growth by not lowering interest rates, but the Fed has maintained its stance of keeping rates steady.
This is not the first time that Trump has made controversial statements regarding a public figure. Recently, he offered refugee status to white South Africans, claiming they were the victims of a racist state. He has also called for an end to America's interventionist past in the Middle East and has criticized the actions of two music legends in the same day.
Current Scenario
As Trump continues his Middle East tour, he is set to meet with Syrian President Ahmad al-Sharaa, a former insurgent leader who spent years imprisoned by the US. The president's visit to the region has also given Israel a historic opportunity to act, according to experts.
Meanwhile, in the US, the Ways and Means Committee has been working on a tax cut plan that aligns with Trump's vision, including the creation of "MAGA accounts." The president has also urged Walmart to absorb the consequences of his tariffs, instead of passing them onto consumers in the form of price increases.
With all of these developments, it is evident that Trump's actions and statements have a significant impact, not just on the US but on the global stage. As he continues to push for his policies and make controversial decisions, it remains to be seen how his presidency will shape the future of the country and the world.
About the People Mentioned
Donald Trump
Donald John Trump, born June 14, 1946, in Queens, New York, is an American businessman, media personality, and politician. He graduated from the University of Pennsylvania’s Wharton School in 1968 with a degree in economics. In 1971, he took over his family’s real estate business, renaming it the Trump Organization, through which he expanded into building and managing skyscrapers, hotels, casinos, and golf courses. Trump gained widespread fame as the host of the reality TV show *The Apprentice* from 2004 to 2015, which helped establish his public persona as a successful entrepreneur. Trump entered politics as a Republican and was elected the 45th president of the United States, serving from 2017 to 2021. His presidency was marked by significant policy actions including tax cuts, deregulation, the appointment of three Supreme Court justices, renegotiation of trade agreements (notably replacing NAFTA with the USMCA), and a focus on immigration control including border wall expansion. He withdrew the U.S. from international agreements such as the Paris Climate Accord and the Iran nuclear deal, and engaged in a trade war with China. His administration’s response to the COVID-19 pandemic was criticized for downplaying the virus’s severity. Trump was impeached twice by the House of Representatives—first in 2019 for abuse of power and obstruction, and again in 2021 for incitement of insurrection—but was acquitted by the Senate both times. After losing the 2020 election to Joe Biden, Trump challenged the results, culminating in the January 6, 2021, Capitol riot. He remains a central figure in American politics, having won the 2024 presidential election and returned as the 47th president in 2025, continuing to promote policies aimed at economic growth, border security, and military strength[1][2][3][4].
Jerome Powell
Jerome H. Powell is the Chair of the Board of Governors of the Federal Reserve System, the central bank of the United States, a position he has held since February 2018 following his initial appointment by President Donald Trump and subsequent reappointment by President Joe Biden for a second four-year term in May 2022[2][5]. He also chairs the Federal Open Market Committee, the Fed’s principal monetary policymaking body[2]. Powell’s tenure spans some of the most significant economic challenges in recent U.S. history, including the post-Great Recession recovery and the financial fallout from the COVID-19 pandemic[3][6]. Born on February 4, 1953, in Washington, D.C., Powell holds an AB in politics from Princeton University (1975) and a law degree from Georgetown University (1979), where he was editor-in-chief of the Georgetown Law Journal[2]. His career before the Fed included roles as a lawyer and investment banker in New York City, a partner at The Carlyle Group (1997–2005), and a visiting scholar at the Bipartisan Policy Center focusing on fiscal issues[2][5]. He served as both Assistant Secretary and Under Secretary of the Treasury under President George H.W. Bush, with responsibilities for financial institutions and the Treasury debt market[2][5]. Powell was first nominated to the Federal Reserve Board by President Barack Obama in 2012 and assumed office in May of that year, later being reappointed for a term ending January 31, 2028[2][8]. As Fed Chair, he initially continued the policy of gradually raising interest rates—a process begun under his predecessor, Janet Yellen—to return monetary policy to more normal levels after the 2007–08 financial crisis[3]. This approach drew criticism from President Trump, who publicly opposed further rate hikes, but Powell maintained that such measures were necessary to prevent inflation and ensure long-term stability[3]. Powell’s leadership was again tested during the COVID-19 pandemic, when he led the Fed in slashing interest rates to near zero, launching emergency lending programs, and purchasing corporate debt to stabilize financial markets—actions that significantly expanded the central bank’s role in the economy[3]. Despite political pressures from both Democratic and Republican administrations, Powell has been praised for his steady, data-driven approach to monetary policy[6]. He resides in Chevy Chase, Maryland, with his wife and three children[6]. As of 2025, Powell remains a central figure in U.S. and global economic policy, overseeing the Fed’s efforts to balance inflation control with support for economic growth amid ongoing uncertainties in the financial landscape[2][5].
Ahmad al-Sharaa
Ahmed al-Sharaa, born on October 29, 1982, in Riyadh, Saudi Arabia, is a Syrian politician and former rebel commander. He is known by his nom de guerre Abu Mohammad al-Julani. Al-Sharaa's early life was marked by his involvement with extremist groups; he joined al-Qaeda in Iraq before the 2003 invasion. He was captured by American forces in 2006 and held until 2011, when he was released during the Syrian Revolution. Upon his release, al-Sharaa played a pivotal role in the Syrian Civil War by forming the al-Nusra Front in 2012, initially as an al-Qaeda affiliate. However, he severed ties with al-Qaeda around 2016 and transformed the group into Hayat Tahrir al-Sham (HTS), which became a dominant force in Syria's opposition. Under his leadership, HTS focused on local governance and combating other extremist groups like ISIS and al-Qaeda. Al-Sharaa's efforts led to the establishment of the Syrian Salvation Government in Idlib, which managed local institutions and trade. In 2024, al-Sharaa's forces were instrumental in toppling the Assad regime, ending decades of rule by the Assad family. Subsequently, he was appointed as the de facto leader of Syria before being formally elected as president in 2025. His presidency marks a significant shift in Syria's political landscape, with al-Sharaa attempting to rehabilitate his image and engage internationally. He has renounced transnational jihadism and seeks to improve relations with Western nations while focusing on governance and minority protection in Syria. Al-Sharaa's presidency is seen as a critical moment in Syria's transition, with ongoing challenges related to rebuilding and international recognition.
About the Organizations Mentioned
Federal Reserve
## Overview and Mission The Federal Reserve, often called the "Fed," is the central bank of the United States, established by Congress in 1913 to provide the nation with a safer, more flexible, and stable monetary and financial system[1]. Its mission centers on a dual mandate from Congress: to promote maximum employment and maintain price stability, ensuring the dollar retains its value over time[1]. The Fed operates through a unique hybrid structure, combining a national Board of Governors in Washington, D.C., with 12 independent regional Reserve Banks, including institutions like the Cleveland Fed[1]. This decentralized setup allows the Fed to closely monitor economic conditions across diverse regions, industries, and communities, while maintaining independence from short-term political influences[1]. ## Key Functions The Fed’s responsibilities are broad and vital to the U.S. economy. It conducts monetary policy—primarily by influencing interest rates—to achieve its employment and inflation goals[2]. The Fed also supervises and regulates banks to ensure the safety and soundness of the financial system, works to minimize systemic risks, and fosters efficient payment and settlement systems[2]. Additionally, it promotes consumer protection and community development, addressing emerging issues through research, supervision, and enforcement of consumer laws[2]. ## History and Evolution The Federal Reserve is the third central bank in U.S. history, following two failed attempts in the 19th century[1]. Its creation was a response to the financial turbulence of the early 20th century, aiming to prevent crises and stabilize the economy. Over time, the Fed has evolved, adopting more transparent and inclusive policymaking processes. For example, it now conducts regular reviews of its monetary policy framework, engaging with academics, businesses, and the public to refine its strategies and communications[3][5]. ## Recent Developments and Achievements In 2025, the Fed completed its second major review of its monetary policy strategy, tools, and communications, reaffirming its commitment to transparenc
Ways and Means Committee
## Overview The United States House Committee on Ways and Means is the chief tax-writing committee in the U.S. House of Representatives and the oldest standing committee in Congress, established in 1789[1][3]. Its name, drawn from British parliamentary tradition, reflects its core mission: to determine the “ways and means” by which the federal government raises revenue[4]. The committee is central to American economic policy, with jurisdiction over taxation, tariffs, trade, Social Security, Medicare, unemployment benefits, and other critical social welfare programs[1][2][5]. ## History The committee was first created as a select committee on July 24, 1789, and became a standing committee in 1802[1][3]. Until 1865, it also handled appropriations and banking, but since then, its focus has narrowed to revenue-raising measures[3]. The committee’s influence is rooted in the U.S. Constitution, which mandates that all tax bills originate in the House, and House rules require that such bills pass through Ways and Means[2][3]. This unique position has made the committee a launching pad for many political careers—eight presidents, eight vice presidents, 21 House speakers, and four Supreme Court justices have served on the committee[3]. ## Key Achievements Ways and Means has shaped landmark legislation, including major tax reforms, the creation of Social Security and Medicare, and pivotal trade agreements[1][3]. Its members have played decisive roles in debates over the federal budget, healthcare funding, and economic stimulus packages. The committee’s work often sets the stage for broader national policy debates, reflecting its outsized influence on both economic and social issues[1][5]. ## Current Status In the 119th Congress (2025), the committee has 43 members, reflecting the partisan balance of the House, and is chaired by Jason T. Smith[1][2]. It operates through specialized subcommittees—Health,
Walmart
Walmart, founded in 1962 by Sam Walton, has grown from a single discount store in Arkansas to become the world’s largest retailer, with a commanding presence in both physical and digital retail landscapes[3]. As of fiscal year 2025, Walmart operates over 10,750 stores and serves approximately 270 million customers each week across 19 countries, employing about 2.1 million associates worldwide[1][2][4]. The company reported $681 billion in revenue for 2025, reflecting a 5.1% increase from the previous year and an 8.6% rise in operating income, underscoring its robust financial health and ongoing expansion[1][4][6]. ## What Walmart Does Walmart is a leader in hypermarkets and discount retail, offering a vast range of products—from groceries and apparel to electronics and home goods—through its extensive network of physical stores, e-commerce platforms, and mobile apps[2][3]. Its business is organized into three main segments: Walmart U.S., Walmart International, and Sam’s Club, a members-only warehouse club[3][5]. The company’s mission—“to help people save money and live better”—drives its focus on everyday low prices, convenience, and customer-centric innovation[2][5]. ## History and Key Achievements Walmart’s journey from a single store to a global powerhouse is marked by relentless expansion, operational efficiency, and technological adoption[3]. Key milestones include the launch of Walmart Supercenters in the 1980s, international expansion beginning in the 1990s, and the rapid growth of its e-commerce business in the 2010s and beyond[3]. Today, online sales account for 18% of Walmart’s revenue, fueled by four consecutive quarters of 20% growth[1]. The company’s retail media network, Walmart Connect, has also surged, with ad revenue up 50% in a recent quarter
