President Trump said it was « highly unlikely » he would fire Jerome Powell, but also said he discussed the idea with Republican lawmakers who expressed support.
President Trump says he hasn’t ruled out firing Federal Reserve Chairman Jerome Powell, who he’s been frustrated with for months for not lowering the interest rate.
The Fed has been cautious about interest rates as it assesses the impact of Trump’s tariffs on inflation. Consumer prices were up 2.7% froma larger annual increase than the month before. But Trump says Powell refusing to lower rates is hurting the economy.
Trump told reporters Wednesday he’s « not planning » on firing Powell — a move that could undermine the Federal Reserve’s independence.
