Tough language: Donald Trump said he would not reappoint Jerome Powell
Donald Trump has said he will fire the chairman of the US Federal Reserve when he returns to the White House.
The former president — who is widely expected to be the Republican nominee — said he would not reappoint Jerome Powell if he wins the November election.
Asked on Fox Business whether he would keep Powell in the job, Trump said: “No, I wouldn’t.”
Trump appointed Powell chairman of the central bank in 2018 while he was in the Oval Office. Powell was sworn in by President Biden in 2022 for a second four-year term.
But a Trump victory this year would make a third term from 2026 highly unlikely.
Trump claimed Powell – who has raised US interest rates to a 23-year high – is trying to lower them to help Biden stay in power.
“I think he’s going to do something to help the Democrats,” he said.
And when asked why US stock markets have reached record highs this year, Trump said investors were betting on his return to the White House.
“They think I’m going to get elected,” he said.