I'm Lydia Who, and this is the Fox Business Rundown.

Friday, April 18, 2025, President Trump lashing out at Federal Reserve Chairman Jerome Powell this week.

After Powell signaled, he's in no rush to cut interest rates.

Now the president is saying Powell's termination

cannot come fast enough. Yeah, those opening Pandora's box. I think Scott Beck's absolutely correct.

You have to keep some independence. And let's face it, he's out of there. I don't think he's going to

get renominated come May of 2026. So I think bottom line is, you know, he's going to be out regardless.

Federal Reserve Chairman Jerome Powell spoke at the Economic Club of Chicago this week. He said

the Fed needs greater clarity on the economy before cutting interest rates. Though inflation has

fallen recently and the labor market shows resilience, Powell said time is needed to ensure tariffs don't stir inflation.

The remarks sparked a market sell-off, the Dow, dropping 500 points Wednesday.

But a rate cut is what the White House wants to see.

On Thursday, President Trump responded with some harsh criticism of Chair Powell,

calling him too slow on rate cuts and highlighting how aggressive European Central Bank has been with rate cuts, arguing it places the United States at a disadvantage.

Trump nominated Powell to serve as chair of the Board of Governors of the Federal Reserve System in 2017, and President Biden nominated Powell for a second term.

But now, could President Trump cut Powell's service short? We'll start first with the interest rate clash between President Trump and Chairman Powell.

Ryan Payne, thank you so much for joining us on this Good Friday.

Great to be here, Lydia. Thanks for having me on, as always.

So, Ryan, we've got to get into this whole, should I say beef between President Trump and Jerome Powell. I mean, it's getting pretty intense. So let's just kind of break it down and let everyone catch up to where we are on this.

You know, Jerome Powell spoke this week on Wednesday at the Economic Club of Chicago.

And in these remarks, he basically said the Fed kind of is in no rush to cut interest rates, right?

Like he wants to wait and see what's going on with tariffs. Is that going to increase

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