Jerome Powell will remain in the position of Commander of the Federal Bank (Fed) By the end of his term in May 2026, the US President announced Donald Trumpwhile calling the central banker very “tight” and insisting on reducing interest rates.
In a NBC interview (4.5.2025) today, Trump said Powell does not like him, but expects the Fed to reduce interest rates at some point.
“Well, it should reduce them. And at some point, he’ll do it. Better to do it because he doesn’t like me. You know, he doesn’t like me because I think it’s completely tight. ” he said.
Answering a question whether he would remove Powell before the end of his term as head of the Fed in 2026, Trump gave his most accused refusal by saying: “No, no, no. That was a complete – why should I do it? I will replace the person in another period soon. “
Wall Street shares were overwhelmed last month when Trump multiplied his attacks on Powell, intensifying concerns about the central bank’s autonomy and causing turbulence on markets. After the vertical fall, Trump retreated a bit.
His current comments are the clearest indication so far that the US president will keep Powell in his place, which can reassure the upset markets have suffered from Trump’s moves to change the world trade system with a tsunami of duty.
On April 2, Trump imposed 10% duties on most countries, along with higher duties for many commercial partners who then suspended for 90 days. It also imposed 25% duties on cars, steel and aluminum, 25% duties in Canada and Mexico, and 145% duties in China.
The Trump government is negotiating trade agreements with over 15 countries that could prevent higher duties and officials say the first agreement may be announced soon.
During an interview with the NBC, Trump refused to rule out the possibility of some of the duties that became permanent. “No, I wouldn’t do that [να αποκλείσει την πιθανότητα ορισμένοι δασμοί να γίνουν μόνιμοι] because if some people believed that [οι δασμοί] They would get out of the table, why should they invest in the United States? “
Trump acknowledged that he was “very tough with China”, essentially interrupting the trade between the world’s two major economies, but said that Beijing now wants to reach an agreement.
‘We cut it a knife [το εμπόριο]”, He said. “This means we are losing trillions of dollars … because we do not do jobs [business] With them now. And they want to make agreement. They want crazy to make agreement. We will see how all this goes, but it must be a fair deal. “
Source: RES – EIA