Trump Rules Out Firing Fed Chair Powell, Renews Call for Interest Rate Cuts
US President Donald Trump said Tuesday that he has no intention of firing Federal Reserve Chairman Jerome Powell, although he again pressured him to lower interest rates.
“I have no intention of firing him,” Trump told reporters at the Oval Office. “I would like to see him be a little more active in terms of his idea to lower interest rates.”
Calling it a “perfect time” to cut rates, Trump said that while such a move is not critical, it would help support the economy. “If he doesn’t, is it the end? No, it’s not. But it would be good timing,” he added.
Trump pointed to a recent drop in prices, especially in energy and grocery items, as a reason for a rate cut. “The only thing that hasn’t come down—but hasn’t gone up much—is interest rates, and we think the Fed should lower the rate,” he said. “We would like to see our chairman be early or on time, as opposed to late.”
