Trump Confirms He Has 'no intention' of Firing Fed Chair Powell
(MENAFN) On Tuesday, United States Leader Donald Trump affirmed that he does not plan to dismiss Federal Reserve Chairman Jerome Powell.
However, he once again encouraged Powell to take more initiative in reducing interest rates.
“I have no intention of firing him,” Trump said to journalists gathered in the Oval Office.
He added that he’d prefer Powell to be “a little more active” in pursuing policies aimed at decreasing interest rates.
Trump described the current moment as an ideal opportunity to implement a rate cut. Although he emphasized that the decision wasn’t essential, he believed it would benefit the broader economy.
“If he doesn’t, is it the end? No, it’s not. But it would be good timing,” he commented, implying that the action would be well-timed but not absolutely necessary.
As part of his reasoning, Trump referenced the recent decline in consumer costs, especially in areas such as fuel and food products, to support his position on easing rates.
“The only thing that hasn’t come down – but hasn’t gone up much – is interest rates,” he noted. “We think the Fed should lower the rate.” He further expressed a desire for the chairman to act “early or on time, as opposed to late.”
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