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President Donald Trump took aim yet again at Federal Reserve Chair Jerome Powell, calling him “a total stiff” in a new interview while reiterating that he has no intention of removing the central bank chief before his term ends.
In an interview with NBC’s (CMCSA) Meet the Press that aired Sunday, Trump accused Powell of letting his antipathy for the president influence U.S. monetary policy. Powell has said he will continue to be patient about cutting interest rates and see how things play out ahead of the Fed’s next meeting this week. The president also used the interview to reiterate his frequent calls for rate cuts.
“He should lower them. And at some point, he will,” Trump said. “He’d rather not because he’s not a fan of mine. You know, he just doesn’t like me because I think he’s a total stiff.”
Still, despite the targeted words (part of a flurry of criticism Trump has directed toward Powell), the president appeared to offer his most definitive statement yet that Powell will remain in the role through the end of his term. When asked if he would remove the Fed chair, Trump said: “No, no, no. That was a total — why would I do that? I get to replace the person in another short period of time.”
Powell’s term is up in May 2026.
Trump appointed Powell as Fed chair during his first term (he was renominated by then-President Joe Biden) but has since grown increasingly critical of the central bank’s cautious approach to rate cuts. With the economy showing signs of resilience — the U.S. added 177,000 nonfarm jobs last month — the Fed is expected to hold rates steady during its policy meeting this week, despite mounting pressure.
Trump’s remarks are just the latest in a series that he has directed toward the Fed chair — the president previously called Powell a “major loser.” And the markets have paid attention, reacting nervously to Trump’s frequent criticisms. Last month, stocks tumbled after the president escalated his attacks on Powell, which raised concerns about the central bank’s independence and prompted people to ask whether the president could — or would — try to remove Powell from his role.
In mid-April, the president wrote in a social media post that “Powell’s termination cannot come fast enough!” and followed that up with Oval Office remarks that “if I want him out, he’ll be out of there real fast, believe me.”
But since then, White House advisers, including Treasury Secretary Scott Bessent, have reportedly urged Trump to stop undermining Powell publicly to avoid spooking the markets. Bloomberg reported that Bessent and others have warned the president that talk of firing the Fed chair could trigger further financial instability.