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FED: Trump Noncommittal On Powell Chairmanship, Could Comment On Policy

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Republican Presidential candidate Trump speaking at the Economic Club of Chicago sounds noncommittal on whether he would seek to terminate the term of Fed Chair Powell, either early (if that's even possible) or at the end of his term in May 2026. In general though it sounds like - if elected next month - he would adopt a similar approach as in his first term, by commenting publicly on Fed policy without unduly pressuring FOMC officials.

  • Asked whether he would seek to remove or demote Powell: "I think it's the greatest job in government. You show up to the office once a month, and you say, 'let's see', flip a coin. And everybody talks about you like you're a god. The guy used to walk into my office and  he was like, begging...he was fine." "I did [consider terminating him in my previous term] because he was keeping the rates too high. And I was right...in fact he actually dropped them too much when I did this."
  • On whether he would do a better job as Fed Chair: "I think I'm better than he would be. I think I'm better than most people would be in that position. 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. But I think I should have the right to make comments as to whether rates should go up or down."
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Republican Presidential candidate Trump speaking at the Economic Club of Chicago sounds noncommittal on whether he would seek to terminate the term of Fed Chair Powell, either early (if that's even possible) or at the end of his term in May 2026. In general though it sounds like - if elected next month - he would adopt a similar approach as in his first term, by commenting publicly on Fed policy without unduly pressuring FOMC officials.

  • Asked whether he would seek to remove or demote Powell: "I think it's the greatest job in government. You show up to the office once a month, and you say, 'let's see', flip a coin. And everybody talks about you like you're a god. The guy used to walk into my office and  he was like, begging...he was fine." "I did [consider terminating him in my previous term] because he was keeping the rates too high. And I was right...in fact he actually dropped them too much when I did this."
  • On whether he would do a better job as Fed Chair: "I think I'm better than he would be. I think I'm better than most people would be in that position. 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. But I think I should have the right to make comments as to whether rates should go up or down."