President Donald Trump said Tuesday he does not plan to remove Federal Reserve Chair Jerome Powell but reiterated his call for lower interest rates. “I have no intention of firing him,” Trump told reporters in the Oval Office. “I would like to see him be a little more active in terms of his idea to lower interest rates.”
The remarks follow a period of public criticism in which Trump repeatedly attacked Powell for not cutting rates further. Last week, Trump posted on social media that Powell’s dismissal “cannot come fast enough,” raising concerns among investors about the Fed’s independence.
Trump’s message on Tuesday struck a less confrontational tone but maintained pressure on the central bank. “We think that it’s a perfect time to lower the rate, and we’d like to see our chairman be early or on time, as opposed to late,” he said. Markets continue to monitor the administration’s stance as it weighs on investor confidence in U.S. monetary policy.
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