Washington, D.C., April 23, 2025 – The Europe Today: U.S. President Donald Trump stated on Tuesday that he has “no intention of firing” Federal Reserve Chair Jerome Powell, despite a series of public criticisms directed at the central bank chief. The remarks were made during a meeting in the Oval Office and follow recent speculation about Powell’s job security.
Trump, who appointed Powell to lead the Federal Reserve in 2017, emphasized that while he does not plan to remove him, he would prefer to see a more proactive approach to lowering interest rates. “I’d like him to be a little more active,” Trump said, according to media reports.
His comments come in the wake of heightened scrutiny last week, when he referred to Powell as “a major loser,” a statement that triggered volatility in financial markets. Stocks, bonds, and the U.S. dollar experienced a brief downturn but have since begun to recover.
The president’s latest remarks also followed comments by National Economic Council Director Kevin Hassett, who suggested Trump was exploring the possibility of dismissing Powell—an unprecedented move, as no sitting U.S. president has ever fired a Federal Reserve chair. The legality of such a step remains uncertain.
Powell, who was reappointed by President Joe Biden for a second four-year term in late 2021, has kept interest rates steady so far this year after a significant cut in late 2024—decisions that have drawn frequent criticism from Trump, who favors a looser monetary policy to stimulate growth.
In addition to monetary policy, Trump addressed U.S.-China trade relations, stating he was “very nice” in ongoing negotiations with Beijing. He indicated that tariffs would be reduced under a trade deal, but “not to zero.” The statement aligns with remarks from Treasury Secretary Scott Bessent, who recently expressed hope for a de-escalation in the U.S.-China trade conflict, calling the current situation “unsustainable.”
Trump’s dual focus on domestic economic policy and foreign trade underscores his administration’s efforts to maintain economic momentum amid global uncertainties and persistent market pressures.
