While acknowledging that he’d like to remove him in a “heartbeat,” President Donald Trump told Newsmax on Friday that Jerome Powell will “most likely” remain as chair of the Federal Reserve.
Trump said as much in an exclusive interview with “Finnerty” host Rob Finnerty, one day after excoriating Powell for being “too angry, too stupid, & too political, to have the job of Fed Chair.”
Trump’s social media post came after the Fed voted to keep interest rates steady; Trump continues to needle Powell to lower rates.
“I would remove him in a heartbeat, but they say it would disturb the market, and he gets out in seven or eight months and I’ll put somebody else in,” Trump said of Powell, whose term ends in May 2026.
Trump also decried the $2.5 billion renovation at the Fed headquarters that he asserts is “way over budget” by hundreds of millions of dollars.
“It’s almost like he’s building a palace for himself, but he’s not gonna be there much longer anyway. That’s the good news. He’ll never get to use it,” Trump said.
Regardless, Trump said, Powell stays in place.
“Well, it’s very disruptive … so I would say most likely, yeah,” he said about the possibility of removal.
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