U.S. President Donald Trump has stated that he would not dismiss Jerome Powell as Federal Reserve Board chairman before his term expires in May 2026, labelling the central banker as “a total stiff” and continuing calls for the Fed to cut interest rates.
Trump argued that his efforts to upend the global economic system through increased tariffs will eventually make Americans wealthy, and that a first-quarter downturn in the US economy was caused by former President Joe Biden’s policies.
In an interview with NBC News’ “Meet the Press with Kristen Welker” that aired on Sunday, Trump said he anticipated the Fed to cut interest rates at some time.
“Well, he should lower them. And at some point, he will. He’d rather not because he’s not a fan of mine. You know, he just doesn’t like me because I think he’s a total stiff,” he said in the interview, which was taped in Florida on Friday.
When asked if he would dismiss Powell before his term as chair ended in 2026, Trump delivered his strongest rejection, stating, “No, no, no. That was a total – why would I do that? I get to replace the person in a short period of time.”
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