President Donald Trump’s attacks on Federal Reserve Chair Jerome Powell are so commonplace at this point that they barely register in financial markets these days. The rapidly intensifying multi-pronged efforts by Trump’s advisers to amplify and expand on Trump’s attacks are a good reason to rethink that indifference.

Federal Reserve Chair Jerome H. Powell is resisting President Donald Trump’s calls for lower interest rates, saying the Fed should not take debt and deficits into account.

Bill Pulte, the Trump-appointed chair of the Federal Housing Finance Agency, claimed Powell’s congressional testimony was misleading and called for him to resign in comments reposted by the president, who echoed Pulte’s call for the Fed chair to quit ahead of the end of his second term in May 2026.