Trump Says ‘No Intention of Firing’ Powell, Presses Fed to Cut Rates

Trump says Powell will remain as Fed chair until May 2026 as he continues pressuring the Federal Reserve to cut interest rates.

Federal Reserve Chairman Jerome Powell after testifying before the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill on Feb. 11, 2025. Madalina Vasiliu/The Epoch Times

President Donald Trump said Tuesday he has no plans to fire Federal Reserve Chairman Jerome Powell, as the president continued his pressure on the central bank to lower interest rates.

“I have no intention of firing him,” Trump said on April 22 in the Oval Office, after a swearing-in ceremony for new Securities and Exchange Commission Chairman Paul Atkins. “I would like to see him be a little more active in terms of his idea to lower interest rates. This is a perfect time to lower interest rates.”