Trump, asked if he plans to fire Fed chair Powell, says "not planning" on it
ReutersJul 16, 2025 4:04 PM
WASHINGTON, July 16 (Reuters) - U.S. President Donald Trump on Wednesday said he was not planning to fire Federal Reserve Board Chair Jerome Powell, but declined to rule out anything, citing an investigation into cost overruns on a $2.5 billion Fed renovation project.
Trump repeated his criticism of Powell for not lowering interest rates, but said he would focus on picking a replacement in a few months. Powell's term ends in May 2026.
Asked if he ruled out firing Powell, Trump said: "I don't rule out anything but I think it's highly unlikely unless he has to leave for fraud."
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