The current view of him and his economic team is that Powell should remain in charge of the central bank until Powell’s term ends in May 2026, CNN reported
US President-elect Donald Trump is likely to allow Jerome Powell to serve out the remainder of his term as chairman of the Federal Reserve, CNN reported Thursday, citing a senior Trump adviser.
While Trump could change his mind, the current view of him and his economic team is that Powell should remain at the central bank until Powell’s term ends in May 2026, CNN reported.
Trump and Powell clashed several times during his first term, with the president-elect threatening to fire him from office on several occasions.
In 2018, Trump said he was considering replacing Powell after the central bank raised interest rates.
After markets plunged at the start of the pandemic in March 2020, Trump told reporters that he “had the right to fire Powell,” adding that “he’s made, so far, a lot of bad decisions, in my opinion. “
Source: Skai
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