Trump Confirms He Will Not Remove Fed Chair Jerome Powell

President-elect Trump says Powell will serve out his term, but questions linger about their working relationship and the Fed's independence.

President-elect Donald Trump stated in an NBC interview that he has no plans to remove Federal Reserve Chair Jerome Powell, whose term ends in May 2026.
Trump’s comments mark a shift from his previous criticism of Powell, whom he has accused of poor monetary decisions during his first term in office.
Powell has reiterated that he would not resign if asked, citing legal protections for the Fed’s independence from political interference.
Trump has expressed interest in having input on Federal Reserve interest rate decisions, raising concerns among economists about potential challenges to the Fed’s autonomy.
The relationship between Trump and Powell will be closely watched, particularly as Trump’s proposed economic policies, such as tariffs and tax cuts, could increase inflationary pressures.