Less than a week after declaring that Federal Reserve Chairman Jerome Powell’s “termination cannot come fast enough,” President Trump announced that he had “no intention” of removing the head of the central bank before his term expires in 2026.
CNBC reports Trump reaffirmed his commitment to allowing Powell to finish his term during yesterday’s swearing in ceremony for Paul Atkins as chairman of the Securities and Exchange Commission.
“No, I have no intention of firing him,” Trump told reporters. “I would like to see him be a little more active in terms of his idea to lower interest rates. This is a perfect time to lower interest rates.”
Trump’s comments follow a significant stock market sell-off on Monday that some financial experts linked to his attacks on Powell – including a statement where he declared, “If I want him out of there, he’ll be out real fast.”
When asked to clarify that he would not disrupt Powell’s leadership at the Fed, Trump said. “None whatsoever. Never did.”
As for press reports that Trump and his advisors were studying ways of removing Powell, he said, “The press runs away with things.”
Photo by Gage Skidmore / Flickr Creative Commons
Well considering he doesn’t have that power “yet” thats right. BUT he does lie.
So true..