Trump Clarifies Stance on Federal Reserve Chair Jerome Powell

April 23, 2025 - 01:49

President Donald Trump stated on Tuesday that he has no plans to dismiss Federal Reserve Chair Jerome Powell. This announcement comes just days after remarks made by Trump suggested he was considering terminating Powell, which triggered a significant selloff in the stock market.

“I have no intention of firing him,” Trump assured reporters, attempting to quell concerns among investors and financial analysts. The president had previously hinted at his dissatisfaction with the Fed's decision to halt cuts to short-term interest rates, expressing frustration over the central bank's monetary policy.

Trump's comments reflect a complex relationship with the Federal Reserve, as he has often criticized its decisions, particularly when they do not align with his economic agenda. The uncertainty surrounding Powell's position has raised questions about the potential impact on monetary policy and the broader economy. As the administration navigates these challenges, Trump's recent clarification aims to stabilize market confidence in the Federal Reserve's leadership.