Statement of intent? Trump posts a photo of him firing Jerome Powell

President Donald Trump posted an illustration on Truth Social on Saturday showing him firing the head of the Federal Reserve, Jerome Powell. The publication rekindles his tension with the central bank and its leader, with less than a year to go before his term ends in May 2026.

The president's post also reignites the legal debate, as specialists argue that Trump cannot remove Powell prematurely.

The backdrop to the issue has been brewing for months, with Trump pushing for more aggressive interest rate cuts while attacking Powell for maintaining a policy that, in his view, makes credit more expensive and slows the country's economic activity.

The president has even gone so far as to call for reductions of three percentage points, far above what the Fed itself is thinking.

Adding to the tension between Trump and Powell is the Lisa Cook case. The Fed governor challenged her removal by the White House, and a federal court allowed her to remain in office while the lawsuit moves forward, finding it likely that the removal violated the Federal Reserve Act.

The matter has now escalated to the Supreme Court, where the scope of presidential powers over board members and their potential dismissals will be directly assessed. Former officials and central bankers have warned that interfering in the Fed's operations could compromise its historical independence and, consequently, market confidence.

In parallel, Trump moved his pieces and appointed his ally Stephen Miran, a former Treasury advisor, to temporarily fill a vacancy on the Fed Board until January 31, 2026. The Senate quickly confirmed Miran.

Already in office, Miran joined Trump's calls and advocated for faster cuts, generating debate within the monetary policy committee itself.

The image on Truth Social published by Trump highlights the fact that the White House will continue to push for a looser monetary policy and to reconfigure the leadership of the Central Bank, probably with more like-minded profiles.

Powell, meanwhile, maintains his plan to conclude the mandate and preserve the autonomy of the institution.