President Donald Trump on Tuesday afternoon said he has “no intention” of firing Federal Reserve Chairman Jerome Powell, but he reiterated he wants the central bank to lower interest rates.
“The press runs away with things. No, I have no intention of firing him,” Trump said as he took reporter questions in the Oval Office. “I would like to see him be a little more active in terms of his idea to lower interest rates. … If he doesn’t, is it the end? No, it’s not. But it would be good timing.”
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The comments come after Trump posted on social media last week that Powell’s “termination cannot come fast enough!”
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Since then, he’s repeatedly criticized Powell as “slow” to act.
The comments caused some market turmoil.
White House press secretary Karoline Leavitt defended Trump’s attacks of Powell, saying earlier Tuesday he had the “right” to express his displeasure with the Fed chief.
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