Former U.S. President Donald Trump sharply criticized Federal Reserve Chair Jerome Powell on 31 July, calling him a “terrible” leader of the central bank and “nothing but a political hack.” Trump said it had been a “big mistake” to appoint Powell to the post. Trump nominated Powell in 2017 during his time in the White House, replacing Janet Yellen. Powell’s four-year term as chair began in February 2018 and he was reappointed by President Joe Biden in 2022. Trump’s latest remarks renew his long-running public attacks on Powell’s stewardship of monetary policy.