Donald Trump Rules Out Firing Fed Chair Powell Before 2026, Despite Calling Him 'A Total Stiff'

President Donald Trump said he will not remove Federal Reserve Chairman Jerome Powell before his term ends in May 2026, even as he sharply criticized the central banker, describing him as “a total stiff” in a televised interview.

Speaking on NBC’s Meet the Press in a segment aired Sunday, Trump said Powell was not personally supportive of him but stopped short of taking any drastic step that could rattle financial markets further. “Well, he should lower them [interest rates]. And at some point, he will. He’d rather not because he’s not a fan of mine. He just doesn’t like me because I think he’s a total stiff,” Trump said in the interview, which was taped on Friday in Florida.

When asked directly whether he would remove Powell before his term ends, Trump responded with an emphatic “No, no, no,” adding, “Why would I do that? I get to replace the person in another short period of time.”

Trump’s comments follow weeks of market volatility triggered by his repeated criticism of Powell and calls for aggressive interest rate cuts. Wall Street had reacted sharply in April when Trump suggested Powell was harming the economy by keeping rates too high, raising fears over the Fed's independence.

However, by affirming that Powell will serve out his full term, Trump sent a signal of stability that could help ease market anxieties, even as he continues to push for a more accommodative monetary stance.

The president also used the interview to double down on his hardline trade policies. He said the U.S. has gone “cold turkey” on trade with China, claiming it is no longer “losing a trillion dollars” due to imbalanced trade. “They want to make a deal very badly,” Trump added.

Trump further hinted that some of the tariffs imposed on foreign goods could become permanent. “If somebody thought they were going to come off the table, why would they build in the United States?” he said, referring to industries considering domestic manufacturing.

His administration is currently engaged in trade negotiations with more than 15 countries, with the first deal expected to be announced soon.

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