Trump in an interview: Powell 'most likely' to stay on as Fed chief
The president: 'I would remove him in a heartbeat, but they say it would disturb the market, and he will leave in seven or eight months and I will put someone else in his place'
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1' min read
Jerome Powell will 'most likely' remain at the helm of the Federal Reserve. President Donald Trump said this in an interview with the US newspaper Newsmax, after harsh criticism of the US central bank governor for leaving rates unchanged, despite the White House leader having repeatedly called on him to cut them. In a social media post Truth had in fact called him 'too angry, too stupid and too political to serve as Fed Chairman'.
"I would remove him in a heartbeat, but they say that would disturb the market, and he will be gone in seven or eight months and I will put someone else in his place," Trump said about Powell, whose term expires in May 2026. The tycoon also denounced the $2.5 billion renovation of the Fed's headquarters, which he said is "way over budget" by hundreds of millions of dollars. "It's almost like a building is being built, but it won't be there much longer anyway. That's the good news. He can never use it,' he commented. Regardless, Trump stated that Powell will remain in his post. 'Well, it's very destabilising. So I would say most likely yes,' he replied when asked directly on the subject.
