OAN Staff Avril Elfie
2:59 PM – Monday, December 9, 2024
President-elect Donald Trump has said he has no intention of firing Federal Reserve Chairman Jerome Powell.
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President Trump said in an exclusive interview with “Meet the Press” that he has no intention of shortening Powell's term, which ends in May 2026.
“Federal Reserve Chairman Jerome Powell has said he will not resign even if you ask him to. Would you like to replace Jerome Powell?” Welker said in an interview at Trump Tower in New York City. I asked inside.
“No, I don't think so. I don't know,” Trump replied. “But I wouldn't. If I told him to do it, he would. But if I asked him to do it, he probably wouldn't. But… If I tell him, he will.”
Mr. Welker followed up with, “Are you sure you don't have any plans for that right now?”
“No, it's not,” Trump said.
The president-elect appointed Powell as chairman of the Federal Reserve Board in February 2018.
Mr. Powell and Mr. Trump clashed several times during his first term, with the president-elect threatening to fire Mr. Powell on various occasions.
In 2022, President Joe Biden reappointed Powell for a second four-year term.
Mr. Powell gave a resounding “no” to a recent question about Mr. Trump resigning early so he could more quickly choose a successor. He also said he didn't believe Trump could fire him.
“It's not allowed by law,” Powell said at a post-election press conference.
When Trump returns to office, his relationship with Powell will be a focus of attention. Trump criticized Powell during his first term, arguing that he was not moving quickly enough to ease monetary policy.
President Trump went after Powell again in March 2020 at the start of the pandemic, telling reporters that he had the “right to remove” Powell from his post, adding, “In my opinion, many “It was the wrong decision,” he said.
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