Trump rectifies and rules out dismissing Federal Reserve Chairman Jerome Powell

President Donald Trump said on Tuesday that he has no intention of ousting Jerome Powell as chairman of the Federal Reserve (Fed), despite the strong remarks he has made against him in recent days.

"I have no intention of firing him, I would like to see him be a little more active in terms of his idea to lower interest rates," Trump said highlighting that it "is a perfect time to lower rates" and expressing his desire to truly see Powell take action in the face of the current economic situation.

Trump's pressure on the Fed

Although he now publicly rules out dismissing Powell, Trump has intensified his criticism of him. Despite having nominated him as Fed chairman in 2017, disagreements between the two have surfaced since then.

A few days earlier, Trump called Powell a "major loser" and wrote on his social network Truth Social. He also accused the central banker of reacting slowly and added: “Powell’s termination cannot come fast enough!”

Interest rates and inflation

Trump's remarks come at a key moment for the country's economic policy. With inflation stable and mixed signals in the economy, expectations are rising for a possible rate cut by the Fed. Trump has made it clear that, from his perspective, any delay could be detrimental to the economy.

For now, Jerome Powell remains firmly in place as political pressure adds to the already complex economic challenges facing the Fed.