President Donald Trump said he won’t remove Federal Reserve Chair Jerome Powell before his term ends in May 2026 but reiterated criticism, calling Powell “a total stiff” and urging interest rate cuts.
In an NBC News interview, Trump said Powell “would rather not” lower rates because “he’s not a fan of mine.” Still, Trump offered his clearest denial yet on removing Powell: “No, no, no… Why would I do that?”
Trump blamed economic troubles on former President Biden and defended tariffs as long-term benefits for Americans, despite recent market volatility and a first-quarter economic contraction.
Trump’s tariffs — including 10% on most countries and 145% on China — have caused economic whiplash. Still, he argued they would spark domestic investment: “If somebody thought [tariffs] were going to come off… why would they build in the United States?”
Trump also downplayed concerns about rising consumer costs, saying Americans “don’t need to have 30 dolls… or 250 pencils.”
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