Federal Reserve Targets 10% Workforce Cut by 2027 to Navigate Trump-Era Downsizing Pressure

In May 2025, Jerome Powell outlined a Federal Reserve plan to reduce its workforce by about 10%, following a closed-door meeting of 12 regional Fed presidents in Philadelphia on Trump administration downsizing efforts. The staff cut from 24,000 to roughly 22,000 by the end of 2027 is intended to address political pressure while preserving the central bank's policy independence, with analysts noting limited direct impact on cryptocurrency markets so far.