Trump says he won’t fire Fed chair, days after hinting otherwise and triggering market dip

Tiffany April 23, 2025

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By Austin Williams Published April 22, 2025 7:00pm CDT Economy FOX Local

President Trump takes questions in Oval Office

President Donald Trump took questions in the Oval Office on Tuesday. President Donald Trump participated in a swearing-in ceremony for Paul Atkins, who was nominated to serve as chairman of the Securities and Exchange Commission.

The Brief

- President Trump said he has “no intention” of firing Fed Chair Jerome Powell.
- His earlier threat to remove Powell had caused a drop in the stock market.
- Trump continues to push the Fed to lower interest rates, saying inflation is no longer a concern.

WASHINGTON – President Donald Trump said Tuesday he plans to keep Federal Reserve Chair Jerome Powell in place — just days after roiling financial markets by suggesting Powell could be on his way out.

The reversal comes amid growing investor unease over the administration’s influence on monetary policy, as Trump continues to pressure the Fed to cut interest rates in response to what he claims is fading inflation.

“I have no intention of firing him,” Trump told reporters, signaling a possible retreat from the threats that triggered last week’s selloff.

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