Trump posts cartoon depicting himself firing Federal Reserve Chairman Powell

US President Trump posted a cartoon depicting himself firing Federal Reserve Chairman Jerome Powell on Saturday, September 27th.

The post, posted on the "truth social" platform, features an image showing Trump pointing his finger at Powell and yelling, "You're fired!" while Powell holds a box containing personal belongings. The Federal Reserve seal is depicted behind them.

ChatGPT's visual analysis indicates the image appears to be "AI-generated or digitally rendered."

Trump has repeatedly criticized Powell for his cautious approach to interest rate cuts, nicknamed him "Too Late Powell." This latest "firing threat" comes despite the Fed's first rate cut of the year earlier this month. Powell's term as chairman ends in May 2026.

The White House did not immediately respond to a request for comment.

Firing a top central bank official would be unprecedented in the United States—although some presidents have criticized previous Federal Reserve chairmen, no president has ever attempted such a move. A recent Supreme Court ruling states that presidents lack the authority to remove Federal Reserve officials at will. Powell has repeatedly stated that his dismissal is "not legally permitted."

The Trump administration criticized Powell over renovations to the Federal Reserve's Washington headquarters, sparking speculation that Trump might seek to remove the Fed chief. While Trump has recently toned down his criticism of the Fed building, he has repeatedly stated publicly that he believes Powell's high interest rates are harming the US economy.

In August, Trump attempted to fire Federal Reserve Governor Tim Cook over allegations of mortgage fraud. The Supreme Court is about to rule on the case. The US Department of Justice stated in a filing to the Supreme Court on Friday, September 26, that firing Cook for alleged misconduct would not harm financial markets. Cook's lawyers had previously argued in a Supreme Court filing that firing Cook could undermine the Fed's independence.

Financial markets have so far reacted calmly to Trump's threats to fire Powell and his attempt to fire Cook. However, many economists and investors believe that firing Powell before the end of his term could lead to higher long-term interest rates because markets would perceive the Fed as acting in Trump's interests rather than its dual mandate of stable inflation and low unemployment, as mandated by Congress.