Trump Stands Firm on Keeping Fed Chair Powell Amid Market Tensions

President Donald Trump affirms he won't fire Federal Reserve Chair Jerome Powell, despite recent tensions and stock market reactions. Trump previously hinted at dissatisfaction with the Fed's interest rate policies. He advocates for rate cuts, asserting that inflation isn't a threat, while Powell cites tariffs as a concern.

President Donald Trump declared on Tuesday that he has no plans to dismiss Federal Reserve Chair Jerome Powell, just days after sparking a market downturn by suggesting he might prefer to remove Powell from his post.

Trump noted his discontent with the Fed's decision to pause its cuts to short-term interest rates yet reiterated his intention to keep Powell in place. The President believes that recent tariff issues are not contributing to inflation, arguing that energy and grocery prices are declining. Thus, he contends, the Fed should cut interest rates to support economic growth.

Trump commented that interest rates are the only figures not decreasing as much as expected, reinforcing his call for action from Powell. The President stressed the importance of timely decisions, urging Powell to act swiftly on rate adjustments.

(With inputs from agencies.)