Trump denies plans to fire Powell as Fed chair

Donald Trump stated in an interview with NBC News that he does not plan to remove Federal Reserve Chairman Jerome Powell before his term ends in May 2026.

In the interview, Trump outlined his priorities for the US economy as he prepares for a potential second term in office, including topics such as ending birthright citizenship and immigration reform.

When asked whether he planned to fire Powell, whom he appointed as Fed chair in 2017 and who was reappointed by President Joe Biden for a second term, the former president responded: "I don't think so."

Trump added that he believes Powell would leave his post if "ordered" to do so, but said that if Powell were "asked," he likely would not comply.

This comes amid concerns over Trump's potential threat to the central bank's independence, which is seen as crucial for the stability of both the global economy and financial markets.