President Donald Trump said on Friday that Jerome Powell will remain as president of the Federal Reserve until his mandate expired in May 2026, even if he called him “a stiff total”, insulted him for refusing to reduce interest rates and said on several occasions that he would dismiss him.
The latest comment occurred during an interview recorded in Florida with NBC News, broadcast on Sunday. When Kristen Welker asked if Powell would be removed before the end of her mandate, Trump replied, “No, no, no.
Trump has also repeated his longtime request that the Fed's oblique bar, adding: “He should lower them. And at some point, he will. He does not prefer not because he is not a fan of me. You know, he just doesn't like me because I think he's a total stiff. ”
Wall Street had already reacted badly last month after Trump accelerated his attacks on Powell, which fears that the White House will be interfered with the independence of the Federal Reserve.
The markets plunged during this period, volatility passing to levels that have not been seen since the first months of the cocovated pandemic in 2020. Trump's new comments seem to aim to calm these fears, although he clearly indicated that he still wanted Powell to fall online.
Trump defends prices, blame Biden for weak GDP
Trump also used the interview to defend his chaotic commercial strategy and to dodge the blame for the latest economic figures. The American economy decreased in the first quarter of 2025, but Trump insisted that it was the fault of Joe Biden.
“This is partly the case right now,” said Trump when he was asked about the service of responsibility. “And I really mean that. I think the good parts are the Trump economy and the bad parts are Biden's economy because he has done terrible job.”
He continued by saying that his administration had lowered the energy and gas prices and began to repair the American trade deficit. He also rejected concerns about the rise in prices caused by prices. He told NBC:
“I just say that they don't need to have 30 dolls. They can have three. They don't need to have 250 pencils. They can have five.”
Trump said the Americans would not be injured by higher prices on imported goods because they could simply buy less. On April 2, Trump launched a massive pricing campaign. He slapped a 10% rate on most countries and has increased rates for several business partners.
Some of these hikes were interrupted for 90 days, but others hit immediately. He imposed 25% of prices in Canada, Mexico, cars, steel and aluminum.
On China, the rate was set at 145%. This decision has mainly stopped trade between the United States and China, according to Trump. “We went to the cold turkey,” he said. “It means that we do not lose a dollars billion … because we are not dealing with them at the moment.”
Incoming commercial transactions, prices can remain forever
Trump told NBC that China now wanted to come back to the table, although China has said on several occasions that the statements it made are just lies. “They want to conclude an agreement. They want to conclude an agreement very badly,” he lied.
As usual, he did not say if the talks had started, but warned that any agreement should be “fair”. Trump also confirmed that his administration was in talks with more than 15 countries to create new trade agreements. One of these transactions could be ready soon, he said, without giving a date.
When asked if the prices could be lifted after these agreements, Trump may have said. “No, I wouldn't do that because if someone thought they were going out of the table, why build themselves in the United States?” He asked.
Trump said that billions of dollars in foreign and interior investment were already coming because of the prices, and he did not want to lose this momentum.
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