Trump backs off on Jerome Powell, says he has 'no intention' of firing the Fed chair

"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."

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 it’s 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.

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