Trump Says He Has No Plans to Fire Fed Chair Powell

Trump has placed public pressure on Powell to lower interest rates more quickly, saying that not doing so harms the U.S. economy.

Federal Reserve Chairman Jerome Powell answers questions from reporters following the regular Federal Open Market Committee meetings at the Fed in Washington, on July 30, 2025. Chip Somodevilla/Getty Images

President Donald Trump said in an interview that he has no plans to remove Federal Reserve Chairman Jerome Powell. The president’s comments follow Department of Justice (DOJ) officials’ revelation this week that Powell is under investigation over the central bank’s ongoing renovations.

“I don’t have any plan to do that,” Trump told Reuters in an interview published Jan. 14, when asked whether he’s planning to remove Powell.