Trump States He Has ‘No Intention’ of Removing Federal Reserve Chair Amid Market Speculation

Trump States He Has ‘No Intention’ of Removing Federal Reserve Chair Amid Market Speculation

Former U.S. President Donald Trump has publicly clarified that he has “no intention” of firing Federal Reserve Chair Jerome Powell if he returns to the White House, amid growing speculation about the future of U.S. monetary policy under a potential second Trump administration.

The statement came during a recent interview in which Trump addressed concerns from investors, economists, and political observers regarding his past criticism of the Federal Reserve and Powell’s leadership. Trump’s remarks appear to be an effort to reassure markets and voters that he would respect the independence of the central bank despite their previous clashes over interest rate policy.

“I have no intention of firing him,” Trump said. “I may disagree with certain decisions, but removing the Fed Chair is not something I’m planning to do.”

During his presidency, Trump frequently criticized Powell and the Fed for not lowering interest rates fast enough to stimulate economic growth. At one point, he reportedly considered firing Powell, although no formal move was made. Powell, originally appointed by Trump in 2018, was later reappointed by President Joe Biden in 2022 for a second term.

Trump’s recent comments come as the Federal Reserve continues to navigate a delicate balance between managing inflation and supporting economic stability. With interest rates remaining relatively high to combat inflation, the Fed’s role in shaping the economic outlook remains central to national debate — and to the upcoming presidential election.

The former president’s statement may also be aimed at calming Wall Street, where concerns over potential political interference in monetary policy have occasionally contributed to market volatility. Investors typically view central bank independence as essential for maintaining financial credibility and economic balance.

Analysts suggest that Trump’s comments could signal a more measured tone on economic governance as he ramps up his 2024 campaign messaging. Still, questions linger over how his administration might influence Fed policy indirectly through fiscal decisions, regulatory changes, or pressure from political allies.

The Biden administration has not commented on Trump’s remarks, though current Treasury officials have reiterated their commitment to maintaining the Fed’s independence.

As the 2024 election season intensifies, the relationship between the White House and the Federal Reserve is expected to remain a closely watched issue, especially with inflation, interest rates, and job growth at the forefront of public concern.

Source : Swifteradio.com