Trump says he has 'no intention' of firing Fed Chair Powell [View all]
Source: CNBC
Published Tue, Apr 22 2025 5:32 PM EDT Updated 55 Min Ago
President Donald Trump on Tuesday said he has "no intention" of firing Federal Reserve Chair Jerome Powell before his term leading the U.S. central bank ends next year. "None whatsoever," Trump said in the Oval Office when asked to clarify that he did not seek Powell's removal. "Never did."
The comment represents a dramatic shift for Trump, who has recently ramped up his rhetoric against Powell and declined to rule out the possibility of taking the unprecedented step of firing him. U.S. stock futures rose sharply across major indexes following Trump’s latest remarks.
Trump, who has heaped pressure on the Fed chair to cut interest rates in hopes of goosing economic growth, said last week of Powell, "If I want him out of there, he'll be out real fast."
White House economic adviser Kevin Hassett said Friday that Trump and his aides were actively studying the possibility of firing Powell. Powell, whom Trump appointed during his first term as president, is set to serve as Fed chair until May 2026. He has flatly stated that the president cannot remove him under the law.
Read more: https://www.cnbc.com/2025/04/22/trump-says-he-has-no-intention-of-firing-fed-chair-powell.html
Until he does.
Article updated.
Previous article -
President Donald Trump on Tuesday said he has "no intention" of firing Federal Reserve Chair Jerome Powell before his term leading the U.S. central bank ends next year. "None whatsoever," Trump said in the Oval Office when asked to clarify that he did not seek Powell's removal. "Never did."
The comment represents a dramatic shift for Trump, who has recently ramped up his rhetoric against Powell and declined to rule out the possibility of taking the unprecedented step of firing him.
Trump, who has heaped pressure on the Fed chair to cut interest rates in hopes of goosing economic growth, said last week of Powell, "If I want him out of there, he'll be out real fast."
White House economic adviser Kevin Hassett said Friday that Trump and his aides were actively studying the possibility of firing Powell. Powell, whom Trump appointed during his first term as president, is set to serve as Fed chair until May 2026. He has flatly stated that the president cannot remove him under the law.
Original article -
President Donald Trump on Tuesday said he has "no intention" of firing Federal Reserve Chair Jerome Powell before his term leading the U.S. central bank expires next year.
"None whatsoever," Trump said in the Oval Office when asked to clarify that he did not seek Powell's removal. "Never did."
The comment represents a dramatic shift for Trump, who has recently ramped up his rhetoric against Powell and declined to rule out the possibility of taking the unprecedented step of firing him.
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