07/17/2025

Trump Says He's 'Not Planning' to Fire Fed Chair Jerome Powell

He appointed him to the role in 2017

President Donald Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome Powell even as he unleashed a fresh round of criticism against the central bank chief for not lowering interest rates and declined to completely reject the possibility of ousting him.

A Bloomberg report earlier Wednesday that the president is likely to fire Powell soon sparked a drop in stock and the dollar, and a rise in Treasury yields.

Trump, who criticizes Powell on an almost daily basis for being "TOO LATE" to cut interest rates,* said the report wasn't true, but confirmed he had floated the idea with Republican lawmakers on Tuesday evening, marking the latest chapter in an escalating campaign of pressure by Trump against the independent central bank and its embattled chief.

Please select this link to read the complete article from Reuters.

*Grammatical errors related to capitalization and punctuation were not rectified by OSAP.