Trump Says He Will Only Appoint Fed Chair Who Wants to Cut Interest Rates

President Donald Trump said he would prefer for Federal Reserve Chair Jerome Powell to step down if he chooses to do so.

U.S. President Donald Trump delivers remarks as he meets with Minister of Foreign Affairs and Cooperation of Rwanda Olivier Nduhungirehe and the Foreign Minister of the Democratic Republic of the Congo Thérèse Kayikwamba Wagner in the Oval Office at the White House on June 27, 2025.Joe Raedle/Getty Images

President Donald Trump said on Friday that he may appoint someone who is more inclined to lower interest rates to succeed Federal Reserve Chair Jerome Powell.

“If I think somebody’s going to keep the rates where they are or whatever, I’m not going to put them in. I’m going to put somebody that wants to cut rates,” Trump told reporters at the Oval Office.