|By Babatunji Wusu-
-Trump Says He Won’t Fire Fed Chair Despite Harsh Criticism
–Insists Powell Is “A Total Stiff” But Hints at Market-Calming Retention
United States President Donald Trump has confirmed he will not remove Jerome Powell as Chairman of the Federal Reserve Board before his term ends in May 2026, despite branding the top banker “a total stiff” and renewing calls for interest rate cuts.
In a taped interview aired Sunday on NBC’s Meet the Press with Kristen Welker, Trump stated that Powell was “not a fan” of his but said the Fed would eventually lower rates as expected by the market.
“Well, he should lower them. And at some point, he will,” Trump said. “He’d rather not because he’s not a fan of mine. You know, he just doesn’t like me because I think he’s a total stiff.”
Pressed on whether he planned to remove Powell early, Trump responded:
“No, no, no. That was a total – why would I do that? I get to replace the person in another short period of time.”
Trump’s remarks come amid growing unease over the Fed’s independence and market stability. Wall Street took a sharp hit last month after Trump intensified verbal attacks on Powell, stoking fears of political interference in monetary policy. However, Sunday’s comments appeared to signal a retreat from earlier aggressive postures.
The President’s confirmation is likely to soothe investor fears and offer reassurance to markets already rattled by his administration’s tariff-driven trade disruptions. On April 2, Trump slapped a 10% tariff on most nations, along with elevated duties on automobiles, steel, and aluminum. Canada, Mexico, and China were hit harder—with China facing a staggering 145% tariff.
Although the tariff rollout triggered global economic tremors, Trump later suspended some levies for 90 days and is now negotiating trade pacts with over 15 countries, which he says could ease tensions. “The first deal could be announced soon,” officials revealed.
Trump, however, refused to commit to lifting tariffs permanently.
“No, I wouldn’t do that because if people believed they would be lifted, why would they invest in the United States?”
On China, Trump doubled down on his hardline stance.
“We’ve gone cold turkey. That means we’re not losing a trillion dollars because we’re not doing business with them right now. And they want to make a deal—very badly.”
He stressed that any future agreement with Beijing must be “a fair deal,” signaling tougher terms ahead for the world’s second-largest economy.
