U.S. President Donald Trump has dismissed speculation that he would remove Federal Reserve Chair Jerome Powell if re-elected, calling such a move “highly unlikely” in comments made during a recent interview.
The statement comes amid growing questions over how Trump might reshape U.S. monetary policy if he returns to the White House. During his first term, Trump frequently criticized Powell for not cutting interest rates fast enough, leading to tensions between the White House and the central bank.
However, Trump now appears to be signaling a more measured stance.
“I don’t see that happening. It’s highly unlikely,” Trump said when asked directly about firing Powell. “We’ll see how things go, but right now, that’s not the plan.”
The remarks offer a degree of reassurance to markets, where stability at the Fed is seen as key to navigating inflation and sustaining economic growth. Still, some economists and investors remain cautious, noting Trump’s past unpredictability on monetary matters.
Powell’s current term as Fed Chair is set to expire in May 2026, meaning any action by a second Trump administration would depend on timing, economic conditions, and political strategy.
Trump’s comments suggest that, at least for now, a major shake-up at the Fed is not on the immediate agenda.