[ad_1]
(Bloomberg) — President Donald Trump insisted he doesn’t plan to fire Federal Reserve Chair Jerome Powell despite his sustained criticism over the pace of interest rate cuts. “Why would I do that?” he said in an interview on NBC’s Meet the Press with Kristen Welker that aired Sunday. “I get to replace the person in another short period of time.”On Wednesday, Trump issued another denunciation of the central bank chief as as the president faces growing pressure from the backlash to his sweeping deployment of tariffs.Powell’s term as chair ends in May 2026. Fed officials are widely expected to hold rates steady when they meet in Washington on Tuesday and Wednesday. While concerns of a possible recession are mounting, government data on Friday showed a strong 177,000 jump in April payrolls.If the Fed indeed declines to cut rates, Powell, who was appointed by Trump in 2018, could face even more pressure.Trump said in the interview taped Friday that Powell doesn’t want to cut rates “because he’s not a fan of mine. You know, he just doesn’t like me because I think he’s a total stiff.”Senior aides, including Treasury Secretary Scott Bessent, have privately urged Trump to soothe jittery markets by making clear he’s not planning to remove Powell, Bloomberg has reported. In mid-April, Trump set off fears by saying in a social media post that “Powell’s termination cannot come fast enough!” followed by Oval Office remarks to reporters that “if I want him out, he’ll be out of there real fast, believe me.” Trump also defended his mass deportations of undocumented migrants and complained about judicial rulings requiring the administration to give immigrants due process before deporting them.Asked if he needs to uphold the Constitution, Trump said, “I don’t know.”He added, “I have to respond by saying, again, I have brilliant lawyers that work for me, and they are going to obviously follow what the Supreme Court said.”Trump also defended his tariff policy, saying that companies are starting to move production facilities to the US. He added that he isn’t ruling out making the tariffs permanent.“I wouldn’t do that, because if somebody thought they were going to come off the table, why would they build in the United States?” he said.The president was asked again whether he was considering running for a third term, even though it’s prohibited by the Constitution. On March 30 he told NBC that “a lot of people want me to do it” but it was too early to make a decision. On Sunday, he seemed to rule it out.“This is not something I’m looking to do,” he said, while citing Vice President JD Vance and Secretary of State Marco Rubio as possible successors. “I’m looking to have four great years and turn it over to somebody, ideally a great Republican, a great Republican to carry it forward.”(updates with Trump comments on Constitution beginning in eighth paragraph.)More stories like this are available on bloomberg.com
[ad_2]
Source link 
 
							HomeBlogOther TalentsDonald Trump rules out possibility of firing US Fed Chair Jerome Powell: ‘Why would I do that?’ | Today News
Donald Trump rules out possibility of firing US Fed Chair Jerome Powell: ‘Why would I do that?’ | Today News
May 4, 2025
Read next
Playa Pacha at FIVE LUXE: A New Dubai Destination Brings the Pulse of Ibiza
December 12, 2024
[ad_1] The Pacha Icons party at Playa Pacha Dubai, part of FIVE LUXE. Photo: FIVE FIVE LUXE in JBR houses the…
					4 min read
14 views
								Pooja Bhatt opens up about facing ageism in Bollywood: ‘There are a whole lot of people out there who have grown up with my poster on the ceiling’ | – Times of India
March 14, 2024
[ad_1] Pooja Bhatt is all set to feature in the upcoming OTT series, ‘Big Girls Don’t Cry‘. She will…
					2 min read
3 views
								“New Day, New Skill” Added To Ranbir Kapoor’s Fitness Diaries. Watch
June 7, 2024
[ad_1] Ranbir Kapoor in a still from the video. (courtesy: trainingwithnam) New Delhi: Ranbir Kapoor might be a…
					1 min read
3 views
								Delhi: IFS Officer commits suicide, jumps off building in Chanakyapuri | Today News
March 7, 2025
[ad_1] Delhi: An IFS Officer committed suicide by jumping off a building in Chanakyapuri area, ANI quoted Delhi…
					1 min read
3 views
								 
		 
		 
										 
										 
										 
				