Washington, D.C. – In a stunning rebuke, The Wall Street Journal’s editorial board tore into President Donald Trump on April 18, 2025, defending Federal Reserve Chair Jerome Powell against Trump’s calls for his “termination.” The piece, titled “Trump vs. Powell,” has sent shockwaves through MAGA circles, with even conservative voices distancing themselves from Trump’s economic strategy.
The editorial was prompted by Trump’s April 17 Truth Social rant, where he labeled Powell “always TOO LATE AND WRONG,” slamming his recent economic report as a “complete mess” and demanding his ouster. Trump’s outburst followed Powell’s April 16 remarks at the Economic Club of Chicago, where he warned that Trump’s tariffs—a 10% baseline on all imports, soaring to 145% on Chinese goods—were “significantly larger than anticipated.” Powell highlighted the Fed’s challenge in balancing its dual mandate of full employment and stable inflation, noting tariffs drive up prices and spur layoffs, prompting the Fed to hold rates steady until clearer data emerges.
The Journal backed Powell, stating, “The problem for Mr. Trump is that Mr. Powell spoke the truth.” They criticized Trump’s tariff war for causing “market ructions and evidence of a slowing economy,” pointing to consumer confidence hitting a four-year low in March 2025 and small-business uncertainty nearing a 50-year peak. Economists now see a 45% chance of a U.S. recession, with the Dow tumbling 1,600 points on April 4 alone. The editorial warned of a “wealth effect” reversal—falling stock prices eroding consumer spending—and called Trump’s tariffs the “biggest assault on the world trading system” since Nixon’s 1971 gold standard shift.
Trump’s push to fire Powell, whose term lasts until May 2026, could spark a legal crisis. The Journal noted that dismissing a Fed chair for policy disagreements may be illegal, potentially leading to a Supreme Court battle and market turmoil. “That’s the last fight Mr. Trump needs now,” they concluded. Economic data supports the Journal’s stance—egg prices have hit $6.23 per dozen, and global trade bodies like the IMF warn of weakened growth due to trade tensions.
On X, reactions range from shock to vindication. Users like
@realTuckFrumper shared the editorial with surprise, while
@ViudaAlegre13 highlighted its significance. The Journal’s critique marks a rare break from conservative support for Trump, exposing cracks in his economic agenda as even right-wing allies question his tariff-driven approach.
