President Trump stated he has no plans to dismiss Fed Chair Jerome Powell, even as he expressed a desire for lower interest rates. Despite a history of conflicts with Powell, Trump's comments relieved investor fears, leading to a spike in stock futures and the dollar. Trump emphasized itâs a strategic time for rate cuts, while also indicating the looming tariffs on China might decrease. His recent criticism of Powell raised speculation about a potential dismissal, though he firmly denied any intention to fire him, reinforcing Powell's significance in the current economic landscape.
I have no intention of firing him. I would like to see him be a little more active in terms of his idea to lower interest rates.
This is a perfect time to lower interest rates. If he doesn't, is it the end? No, it's not. But it would be good timing.
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