The White House has expanded its attacks on Federal Reserve Chairman Jerome Powell by posting an AI-created picture of him cross-dressed as Queen Marie Antoinette.
James Blair, the White House’s deputy chief of staff, responded to an X user who remarked, “That Powell is a real ‘Let them eat cake’ kind of guy.” The expression “Let them eat cake” was falsely attributed to the French queen evidence of her insensitivity to the plight of her impoverished subjects.
Blair, however, took the X user’s quote as a cue to create a picture with Powell as Marie Antoinette, complete with 18th century clothing and an ornate wig. Blair titled his creation “Jerome Antoinette,” and his X posting was shared by Federal Housing Finance Agency Director Bill Pulte, who used his X page to continue his calls for Powell’s resignation.
Outside of social media, Treasury Secretary Scott Bessent used a Bloomberg Television interview to pressure Powell into stepping down from the Fed’s Board of Governors after his term as chairman ends in May 2026; Powell’s term on the board ends in January 2028.
“Traditionally, the Fed chair also steps down as a governor,” Bessent said. “There’s been a lot of talk of a shadow Fed chair causing confusion in advance of his or her nomination. And I can tell you, I think it’d be very confusing for the market for a former Fed chair to stay on also.”
Bessent added the White House is current considering plans for a Powell replacement, stating there was “a formal process that’s already starting.” He added the timing to announce a new Fed chairman is “President Trump’s decision, and it will move at his speed.”
