{"id":47926,"date":"2025-04-24T07:17:54","date_gmt":"2025-04-24T07:17:54","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=18285"},"modified":"2025-04-24T07:17:54","modified_gmt":"2025-04-24T07:17:54","slug":"trump-against-powell-2017-to-2025-timeline","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-asia\/blog\/trump-against-powell-2017-to-2025-timeline\/","title":{"rendered":"Trump Against Powell: 2017 To 2025 Timeline"},"content":{"rendered":"\n

Trump’s march to the Oval Office followed the drumbeats of ‘Make America Great Again’. But is Trump falling out of tune due to his relentless barrage on the Fed Chair, Jerome Powell and the institutional independence of the Federal Reserve?<\/p>\n\n\n\n

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In a series of Trump’s verbal threats to Powell, 23 April 2025 will go down in history books. It marked a sudden pivot from Trump’s crusade against Powell.<\/p>\n\n\n\n

“I have no intention of firing him,” Trump told reporters in the Oval Office on Tuesday. “I would like to see more ideas from him to lower interest rates,” he added.<\/p>\n\n\n\n

US stock futures, which are traded outside of regular market hours, surged following Trump\u2019s comments, with contracts linked to the benchmark S&P 500 and tech-heavy Nasdaq-100 rising more than 1.70 percent and 1.90 percent, respectively.<\/p>\n\n\n\n

The US dollar rose<\/a> more than 1 percent against major currencies.<\/p>\n\n\n\n

A Deep-Seated Feud<\/h2>\n\n\n\n

To truly understand the weight of Trump\u2019s latest pivot, it\u2019s worth rewinding the clock. The friction between Trump and Jerome Powell didn\u2019t begin in 2025.<\/p>\n\n\n\n

It\u2019s part of a deeper, years-long broadside that dates back to 2017, when Trump first nominated Powell as Fed Chair.<\/p>\n\n\n\n

What started as a routine appointment quickly evolved into one of the most public and persistent battles over central bank independence in modern American history.<\/p>\n\n\n\n

Here\u2019s how that story has unfolded over time.<\/p>\n\n\n\n

Timeline: Trump’s Criticisms Of Jerome Powell Over Interest Rates<\/h2>\n\n\n\n

2017<\/h3>\n\n\n\n

2 November 2017: President Trump nominates Jerome Powell<\/a> as Chair of the Federal Reserve, replacing Janet Yellen.<\/p>\n\n\n\n

2018<\/h3>\n\n\n\n

19 July 2018: Trump publicly criticises the Federal Reserve for raising interest rates, stating he’s ‘not thrilled’ with Powell’s decision, breaking a long-standing tradition of presidential silence on Fed policy.<\/p>\n\n\n\n

10 October 2018: Trump escalates his criticism, saying the Fed has ‘gone crazy’<\/a> with its interest rate hikes.<\/p>\n\n\n\n

2019<\/h3>\n\n\n\n

23 August 2019: In a tweet, Trump compares Powell to Chinese President Xi Jinping, asking, “Who is our bigger enemy, Jay Powell or Chairman Xi?”<\/p>\n\n\n\n

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….My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?<\/p>— Donald J. Trump (@realDonaldTrump) August 23, 2019<\/a><\/blockquote>