President Donald Trump has frequently voiced dissatisfaction with the Fed’s “wait-and-see" approach to lowering interest rates under Powell.

The central bank remains cautious, even as calls for rate cuts grow louder from the White House and other policymakers.

Trump hopes to get lower rates by replacing Fed Chair Jerome Powell with someone who would do what the president wants. But Powell’s term as chair does not end until May 2026. He’s insisted he won’t resign early.

President Trump is insisting that Federal Reserve Chair Jerome Powell should lower interest rates. CBS MoneyWatch correspondent Kelly O'Grady has more.

Fed Chair Jerome Powell said tariff concerns delayed interest rate cuts, stating the central bank would have likely reduced rates this year if not for potential consumer price hikes.

Policy is rightly locked on hold over the near-term in part because the uncertainty surrounding the Trump administration’s tariff regime remains unusually high.

Trump, who has repeatedly slammed Powell over his unwillingness to slash interest rates, added that his nemesis “should resign immediately” if the investigation proves he misled

Trump administration official Bill Pulte released a statement suggesting that Fed Chair Jerome Powell is considering resigning amid mounting pressure on his leadership.