Republican calls for Federal Reserve Chair Jerome Powell to resign have grown louder in recent weeks, but Louisiana Sen. John Kennedy says politicians need to back off.
Kennedy broke ranks with GOP colleagues and President Donald Trump, both of whom have demanded Powell’s ouster. (RELATED: ‘The Way The Fed Operates Is All Wrong’: Steve Forbes Tells Fed Not To Neglect ‘Its Sole Focus’)
“I don’t think a bunch of politicians ought to be telling the Federal Reserve how to regulate,” Kennedy told Axios on Wednesday. “The Federal Reserve ought to be independent. In countries where they’re not, generally speaking, the Powerball jackpot is 287 chickens and a goat. Their economy is an embarrassment.”
Sen. Bernie Moreno (R-OH) speaks to a reporter off the Senate floor at the U.S. Capitol Building on June 30, 2025 in Washington, DC. (Photo by Andrew Harnik/Getty Images)
Leading the charge is Republican Ohio Sen. Bernie Moreno, who wrote in a letter obtained by the Daily Caller, “Your relationship with the President … and your mismanagement of the Federal Reserve balance sheet all led to an obvious conclusion … You should resign immediately.”
Alabama Sen. Tommy Tuberville echoed the sentiment, saying, “Fire Jerome Powell. He is destroying the middle class and killing our farmers.”
Trump has also turned up the heat, saying during a Tuesday cabinet meeting that Powell should “resign immediately” and be replaced by someone who will “lower interest rates.”
Florida Sen. Rick Scott backed Trump’s call in an X post Wednesday, writing “President Trump is right … He’s got to go!”
President Trump is right, Jay Powell has been a TERRIBLE chair. Under his leadership, the Federal Reserve is unaccountable, out of control, and failing families.
He’s got to go! 👋 https://t.co/qT7Mv48Pbw
— Rick Scott (@SenRickScott) July 9, 2025
Republicans’ frustration largely centers on their belief that slashing interest rates is critical to jump-starting the economy.
Powell, however, resisted that pressure in his June congressional testimony, saying, “For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.”
He also flagged the potential drag of tariffs on growth, adding to his reluctance to cut rates.
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