04.05.2025 18:21
U.S. President Donald Trump stated that he is not considering removing Federal Reserve Chairman Jerome Powell and expressed that interest rates need to be lowered. Trump emphasized that he would not make any changes before Powell's term ends.
U.S. President Donald Trump announced that he would not appoint someone to replace Federal Reserve Chairman (Fed) Jerome Powell before his term ends in May 2026.
In an interview with NBC television, Donald Trump made evaluations regarding the economy and made striking statements about Fed Chairman Jerome Powell.
"HE PREFERS NOT TO LOWER IT BECAUSE HE DOESN'T LIKE ME"
Trump, who argued that Powell should lower interest rates, said, "At some point, he will lower the rates. He prefers not to lower them because he doesn't like me."
WILL HE BE REMOVED FROM OFFICE?
When asked whether Trump would remove Powell from his position before his presidential term ends in 2026, he replied, "No, why would I do such a thing? I can appoint someone new in a short time anyway."
WHAT HAPPENED?
Recently, Trump has intensified his criticisms of Fed Chairman Powell, stating in a social media post last month that Powell was "very late" in lowering interest rates and demanded his dismissal.
Trump, who has repeatedly called on the Fed to lower interest rates, later made some changes in the tone of his criticisms towards Powell. Trump expressed that he had no plans to remove Powell but stood behind his calls to lower interest rates.