U.S. President Donald Trump has confirmed that he does not plan to dismiss Jerome Powell from his position as Chairman of the Federal Reserve before the end of his term in May 2026, despite labeling him as "too hawkish" in his monetary stance.
Trump reiterated, in an interview aired on NBC's "Meet the Press," his call for the Federal Reserve to lower interest rates, arguing that current monetary policies are hindering growth and putting economic pressure on Americans.
In the interview recorded on Friday in Florida, Trump explained that the Federal Reserve must take the initiative to cut rates sooner or later, stating, "In the end, they will do it. But I prefer they don’t because they don’t like me. They simply are not on my side, and I think they are taking a hawkish approach that is too much."
When asked about the possibility of dismissing Powell before the end of his official term, Trump firmly denied the matter, saying, "No, no, no. I haven't thought about that – why would I dismiss him? He has a short time left, and I will appoint someone else later."
Trump also discussed his views on the outcomes of his trade policies during the interview, emphasizing that the tariffs he imposed on China and other countries are aimed at boosting the U.S. economy and restoring trade balance. He argued that these policies, despite the controversy they have sparked, will contribute to improving the lives of Americans in the long run.
At the same time, he blamed President Joe Biden for the economic slowdown witnessed in the first quarter of the year, stressing that these negative results are a direct consequence of the current administration's approach to managing the economy and public spending.
Trump's statements reflect the ongoing tension between the White House and the Federal Reserve, amid market expectations of potential changes in monetary policy, especially with Powell's term nearing its end and the president anticipating a reshaping of economic policy to serve the priorities of his new administration.
