In an interview with Fox Business, Donald Trump says he will fire Federal Reserve Chair Jerome Powell if he is elected president in 2024. Moreover, Trump stated that he would “have a couple of choices” to appoint as Fed chairman, but was unwilling to share them in the interview.
When asked about the potential re-appointment of the current Chairman, Trump accused him of being “political,” in his actions. Powell has held the position since 2018 and is the 16th Chair in the agency’s history. Interestingly, it was Trump who nominated Powell in 2017 to succeed Janet Yellen in the role.
Trump to Replace Jerome Powell as FED Chair If Re-Elected to Presidency
As many have expected, the race to the presidential elections in 2024 has been vitally important. Amid the fragile economic state of the country, and burgeoning geopolitical conflicts, the election has seemingly grown in its importance. Subsequently, Donald Trump is currently one of the favorites to receive the Republican nomination.
During his current campaign, Trump has not been shy about his perspective on the country’s current state. When asked about the Federal Reserve, Trump said that they will fire Fed chair Jerome Powell if he is re-elected as President in 2024.
Speaking to Fox Business in an interview that aired Friday, Trump did not hold back on his criticism of Powell. “I think he’s going to do something to probably help the democrats,” he stated. Thereafter, he added. “It looks to me like he’s trying to lower interest rates for the sake of maybe getting people elected, I don’t know.”
Trump stated that he would not be inclined to re-appoint Powell, and would go in a different direction. Currently, the Federal Reserve is in the midst of a years-long inflation fight. Moreover, many expect the Central Bank officials to cut interest rates at some point in the next several months, following a year-long tightening campaign.