Trump says he's not planning to remove Fed chief Jerome Powell

By Jen Krausz on
 December 9, 2024

President-elect Donald Trump has not always had kind things to say about the chief of the Federal Reserve, Jerome Powell, whom he appointed in 2018, but he said Sunday on Meet the Press that he won't try to remove Powell before his term ends in 2026.

Trump said, "No, I don't think so," when he was asked by host Kristen Welker whether he would try to remove Powell.

Powell said repeatedly that he would not step down early, and said after the election that he didn't believe Trump could force him out under the law.

Trump said that he believed Powell would step down if he "told him to," but not if he "asked."

During his term, he clashed with Powell over interest rates.

He has since said he thinks presidents should be able to influence interest rates but not control them.