Donald Trump says he has no plans to replace US Fed Chair Jerome Powell: ‘If I asked him…’

The United States President-elect Donald Trump, at NBC’s Meet the Press on Sunday, said that he has no plans to replace Federal Reserve Chair Jerome Powell once he returns to the White House, reported the news agency Reuters.

“I don’t see it,” said President-elect Donald Trump, as per the report. 

Powell’s term as the Fed chairman expires in May 2026, he told reporters last month that he wouldn’t step aside early if Trump asked for his resignation.

“I think if I told him to, he would,” said Trump on the NBC Meet the Press, his first network television interview since winning the US election in November. “But if I asked him to, he probably wouldn’t,” according to the news agency.

Earlier, Powell made it clear within days of the election that he is ready to defend the Fed’s independence from political pressure, insisting the upcoming President doesn’t have the power to fire him or other serious Fed officials. 

“I think I have the right to say, ‘I think you should go up or down a little bit.’ I don’t think I should be allowed to order it,” Trump earlier told Bloomberg, as per the agency report.

“But I think I have the right to put in comments as to whether or not interest rates should go up or down,” he said.

The Greatest Job in Government

Trump also ridiculed Powell’s role and called it out to be “the greatest job in government,” and he also said, “you show up to the office once a month, and you say, Let’s see, flip a coin.” 

According to the interview transcript released Sunday cited in the agency report, Trump responded to a question on Powell’s statement of refusing to step down if asked. Even though Trump appointed Powell, he explored options of whether he could fire or demote him during his first term in office after the Fed raised interest rates a number of times. 

US Fed spokesperson refused to comment on Trump’s latest remarks, as per the agency report.

Powell said he does not expect mentions with the incoming new government, he was asked about whether he would leave his post if Trump asked him to. Powell said “No,” according to the agency report.