Donald Trump recently declared he has “no intention” of firing Federal Reserve Chair Jerome Powell, a statement made during a press briefing in the Oval Office on April 22, 2025. This comment marks a dramatic change in Trump’s tone towards Powell. Still, Powell has endured heavy criticism for his stewardship of the U.S. central bank.
During that White House event held in Washington, D.C., Trump called on Powell to resign when asked about firing him. Previously he has not entirely dismissed the idea of firing the Fed Chair. This opened the door to much speculation regarding their working relationship and cast further uncertainty over Powell’s tenure at the helm of the Fed. Trump’s recent assertion clarifies his current intentions regarding Powell’s position.
Reducing criticism from the grouchiest of benefactors—former president Trump’s comments was the latest in a growing line of attacks from Donald Trump on Powell. Recently, Trump has ramped up his rhetoric against the Federal Reserve’s policies, which he believes have not adequately supported economic growth. Despite this, his latest statement seems to indicate a willingness to maintain Powell in his role as the leader of the central bank.
The significance of Trump’s statement lies in its implications for both Powell’s upcoming term and the broader economic landscape. Powell’s term is set to expire next year, and any decision regarding his continuation would have substantial repercussions for monetary policy and the economy as a whole.
This development suggests a shift in Trump’s approach towards the Federal Reserve, highlighting a newfound stability in his stance on Powell. While Trump’s past remarks hinted at uncertainty regarding Powell’s fate, today’s declaration offers a clearer perspective on his intentions. Accordingly, this announcement has the potential to affect how markets perceive and how the Fed conducts monetary policy for years to come.