U.S. Federal Reserve Chair Jerome Powell is a "numbskull" who has kept interest rates too high, but he will be out in eight months, President Donald Trump said at a news conference on Tuesday.

The letter surfaced as President Donald Trump has bludgeoned the Federal Reserve chairman Powell with criticism over his refusal to cut interest rates.

The Federal Reserve held a first-of-its-kind conference Tuesday to meet the banks they help regulate. The event was the creation of the Fed’s new top regulatory official, Michelle Bowman, and her stated goal is more transparency.

Trumpworld was roiled momentarily on Monday after a fake resignation letter purportedly penned by Federal Reserve Chairman Jerome Powell started to make the rounds of high-profile MAGA social

Fed chair Jerome Powell resignation letter fake appears to dupe Trump-boosting Republican senator - Mike Lee, a Utah MAGA loyalist, posted and then deleted a tweet celebrating Powell’s supposed resign

Erian on Tuesday called for Federal Reserve Chair Jerome Powell to voluntarily relinquish his position to ensure the central bank's independence. He's one of the first prominent economic voices to publicly take such a position.

U.S. Fed Chair Jerome Powell spoke of a need to maintain a "safe, sound and efficient" U.S. banking system while Treasury Secretary Scott Bessent called Powell "good public servant" suggesting he finish his term.

There have been no indications from Powell that he plans to step down despite a barrage of criticism from the Trump administration.