President Donald Trump claimed Friday he “most likely” will not fire Federal Reserve Chair Jerome Powell, despite persistently goading him to leave his post.
Trump has publicly criticized the Fed chair for months for keeping interest rates steady despite the president’s insistence that Powell lower them. In recent days, he’s called Powell “stupid,” “a TOTAL LOSER,” “a knucklehead,” “a stubborn MORON” and a “disaster.”
“I would remove him in a heartbeat, but they say it would disturb the market, and he gets out in seven or eight months and I’ll put somebody else in,” Trump said in an interview with Newsmax’s Rob Finnerty.
Powell, who Trump nominated to lead the central bank in 2017, will see his term as chairman end in May 2026. Any attempt by Trump to remove Powell without cause would immediately trigger a legal firestorm, as the Supreme Court has ruled that the Fed chair is legally protected from presidential removal.
“It’s very disruptive if you fire, so I would say most likely, yeah,” Trump responded when asked by Finnerty if Powell would stay in the role.
