POLITICS: Trump needs to end his war with Jerome Powell now — one way or another

President Trump needs to dump Federal Reserve Chair Jerome Powell, as he’s threatened to do, or quit bashing him publicly.

For the sake of Americans’ sanity, not to mention their 401(k)s.

On Monday, furious over Powell’s refusal to lower interest rates, Trump took to Truth Social to call the Fed chair a “major loser,” the latest in a series of increasingly heated attacks.

No wonder the Dow closed down nearly 1,000 points.

The two men have been butting heads since basically Day 1 of Powell’s tenure in 2018, and rumors have swirled since January that Trump is looking for a way to get rid of him.

But the dysfunction is coming to a head, and Americans are paying the price.

After Powell told the Economic Club of Chicago that tariffs could spike prices and confirmed that the Fed had no plans to lower rates, Trump huffed that his “termination could not come fast enough,” and warned: “I’m not happy with him. I let him know it and — if I want him out, he’ll be out of there real fast, believe me.”

White House economic adviser Kevin Hassett was more subdued, saying that Trump and his team “will continue to study [the] matter” of whether Powell should be axed.

Enough. It’s time for the president to either follow through on his threats to force Powell out — or keep his displeasure to himself.

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Powell’s term ends in May 2026, but he can be fired for cause before then. What qualifies as “cause” is a problem the Supreme Court must sort out.

But if Trump can’t or won’t replace Powell, he needs to rein in his attacks and stop making investors — already dealing with the turbulence and uncertainty of the trade war Trump has launched — even more skittish.

Trump believes lower rates would help spur growth and soothe a stock market that has been going berserk ever since he announced (and then partially delayed) sweeping tariffs.

His public beef with Powell is only doing more damage.

Americans don’t want to see their retirements tank every time their president has an issue with his own appointee.

And Wall Street surely hates the uncertainty. The “will he, won’t he” anxiety over Powell’s potential departure — and the future of Fed policy — is causing mayhem.

End this, Mr. President: Get rid of Powell or keep your barbs to yourself.