The post Donald Trump Ditches Plan To Fire Fed Chair Jerome Powell Amid Calls For Rate Cuts appeared on BitcoinEthereumNews.com.

US President Donald Trump is cranking up the pressure for Fed Chair Jerome Powell to lower interest rates, but questions of a dismissal are out the window. President Trump’s latest stance is a 360-degree change from his previous posturing, hinting at a dismissal of the Fed Chair. Donald Trump Abandons Plans To Fire Jerome Powell According to a Bloomberg report, President Donald Trump has abandoned plans to terminate Jerome Powell’s appointment as Fed Chair. Trump disclosed in a recent speech that he has “no intention of firing” Jerome Powell despite the refusal to lower interest rates. Trump’s latest comments come on the heels of a previous statement hinting at potential dismissal for the Fed Chair. At the time, Donald Trump disclosed that the Fed Chair’s “termination cannot come fast enough” after tagging Powell a loser. However, barely a week following the comments, Trump is making a U-turn that will see Jerome Powell see out his tenure. Despite previous statements hinting at a dismissal, US traders are betting against Powell’s removal on Polymarket. On the other hand, Powell has maintained a stoic stance amid chatter around his potential removal as Fed Chair. Powell argues that the US president is not permitted by law to dismiss a Fed Chair, a claim that has since generated a flurry of legal debate. Trump Increases Calls For Lower Rates While Trump has set aside plans to dismiss Powell, the US President seized the moment to call for interest rate cuts. Donald Trump urged the Fed Chair to be flexible in his stance during the swearing-in of new SEC Chair Paul Atkins. “I would like to see him be a little more active in terms of his idea to lower interest rates,” said Trump. “It is a perfect time to lower interest rates.” Trump has warned…

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Filed under: News - @ April 23, 2025 8:23 am