Trump will not fire Jerome Powell According to a Bloomberg report, the president said he does not plan to dismiss the Federal Reserve Chairman, just days after stating that he would soon announce a decision regarding Jerome Powell's successor.
As reported by the site, former Federal Reserve Governor Kevin Warsh has emerged as a candidate to take the position following Trump's statement about an upcoming announcement. However, the president has now indicated that he will allow the Federal Reserve Chair to complete his term, which ends in May 2026.
He pointed out that there are reports saying it would be bad if Jerome Powell were to be dismissed, and that he does not know the reason behind it, but he does not intend to dismiss him under any circumstances.
Meanwhile, Trump has once again complained about the Federal Reserve's slow pace in lowering interest rates despite evidence of slowing inflation. As reported by the site, the U.S. Consumer Price Index inflation data for May came in lower than expectations. Following the release of the data, President Powell and the Federal Open Market Committee were urged to cut interest rates by 100 basis points. Traders also anticipate the Federal Reserve to lower interest rates twice this year, in September and December.
Donald Trump told Jerome Powell and the Federal Reserve that they could raise interest rates again if inflation returns. He said:
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Trump will not fire Jerome Powell
According to a Bloomberg report, the president said he does not plan to dismiss the Federal Reserve Chairman, just days after stating that he would soon announce a decision regarding Jerome Powell's successor.
As reported by the site, former Federal Reserve Governor Kevin Warsh has emerged as a candidate to take the position following Trump's statement about an upcoming announcement. However, the president has now indicated that he will allow the Federal Reserve Chair to complete his term, which ends in May 2026.
He pointed out that there are reports saying it would be bad if Jerome Powell were to be dismissed, and that he does not know the reason behind it, but he does not intend to dismiss him under any circumstances.
Meanwhile, Trump has once again complained about the Federal Reserve's slow pace in lowering interest rates despite evidence of slowing inflation. As reported by the site, the U.S. Consumer Price Index inflation data for May came in lower than expectations. Following the release of the data, President Powell and the Federal Open Market Committee were urged to cut interest rates by 100 basis points. Traders also anticipate the Federal Reserve to lower interest rates twice this year, in September and December.
Donald Trump told Jerome Powell and the Federal Reserve that they could raise interest rates again if inflation returns. He said: