JUST IN: Trump Says He Might Fire Federal Reserve Chair Jerome Powell – Newsmax
President Donald Trump, who last month said he wouldn’t try to fire Federal Reserve Chair Jerome Powell before his term ends in May 2026, suggested Friday he might change his mind as he continued criticizing the board’s decision this week not to reduce interest rates.
On Wednesday, after the Fed decided to hold its benchmark interest rate steady at 4.25% to 4.5%, Trump responded that day in a post on Truth Social calling Powell “a real dummy, who’s costing America $Billions!”
“I don’t know why the Board doesn’t override this Total and Complete Moron!” Trump wrote. “Maybe, just maybe, I’ll have to change my mind about firing him? But regardless, his Term ends shortly!”
At a news conference Wednesday, Powell brushed off Trump’s criticisms, saying he is focused on the work at hand, CNN reported.
“From my standpoint, it’s not complicated,” Powell said. “What everyone on the [Fed policymaking committee] wants is a good, solid American economy with strong labor market and price stability. That’s what we want. Our policy is well-positioned right now to deliver that.”