The concern has been brewing on Wall Street that Trump will go after the central bank governor since the president has wanted to see interest rates lowered at a faster pace.
No, I don't intend to fire him. I would like to see him be a bit more active when it comes to his idea of lowering interest rates, says Trump on Tuesday evening.
The White House's economic adviser Kevin Hassett told reporters on Friday that Trump was exploring the possibilities of firing Powell, after Trump himself wrote a series of posts on social media criticizing the central bank governor for not having lowered interest rates.
"Powell's dismissal can't come soon enough", Trump wrote on Thursday.
The Fed chief's term expires in May 2026.
We think it's a perfect time to lower the rate and would like to see our central bank governor act early or on time, rather than late, says Trump on Tuesday and emphasizes that the controversies surrounding his previous statements have been exaggerated.
