Trump Will Not Remove Powell
Analysis based on 6 articles · First reported May 04, 2025 · Last updated May 06, 2025
Donald Trump's confirmation that he will not remove Jerome Powell as Federal Reserve Board chairman until 2026 is expected to reassure markets, which had been unsettled by previous attacks on the central bank's autonomy. However, his continued stance on imposing and potentially making tariffs permanent, particularly against China, could maintain volatility in global trading systems and affect industries like automotive and steel.
Donald Trump, former US President, stated in an interview with NBCUniversal — NBC News that he will not remove Jerome Powell as Federal Reserve Board chairman before his term ends in May 2026, despite calling him 'a total stiff' and reiterating calls for the United States — Federal Reserve to lower interest rates. This statement aims to reassure markets that were previously rattled by Trump's attacks on Powell and concerns about the central bank's independence. Trump also defended his tariff policies, including 10% on most countries, 25% on autos, steel, and aluminum, and 145% on China, arguing they would benefit the United States economy. He blamed former President Joe Biden's policies for any economic weakness and is currently negotiating trade deals with over 15 countries, while declining to rule out making some tariffs permanent.
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