Posted on 04/22/2025 3:54:40 PM PDT by Miami Rebel
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 advisor 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.
Trump on Monday fired off his most incendiary criticism of Powell yet, calling him a “major loser” and urging him to lower rates immediately.
But when asked on Tuesday afternoon about the prospect of firing Powell, Trump said, “the press runs away with things.”
PDJT’s Truth Social post with the statement:
https://truthsocial.com/@realDonaldTrump/114352766082542122
1. President Trump has abandoned his attacks on Powell.
2. President Trump has been speaking in conciliatory about tariffs.
But doesn’t it sound as though President Trump thought he had it within his power to axe him?
“Investors” aren’t smart.
“ Trust but verify.”
He said what he said.
And now he’s said he won’t try to fire him.
The markets like that .
That’s a good thing.
And this is what he said last week;
“said last week of Powell, “If I want him out of there, he’ll be out real fast.”
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