Trump Confirms Jerome Powell Will Stay as Fed Chair Until 2026 Despite Criticism

U.S. President Donald Trump confirmed he will not remove Jerome Powell as chairman of the Federal Reserve before his term expires in May 2026, despite repeatedly criticizing him and urging interest rate cuts.

In an interview aired Sunday on NBC’s Meet the Press, Trump described Powell as “a total stiff” but stated definitively that he has no plans to oust him early. “No, no, no… why would I do that? I get to replace the person in another short period of time,” Trump said.

His remarks come after recent comments targeting Powell triggered a market slump, sparking fears over the Fed’s independence. Investors have been uneasy over the president’s pressure on the central bank to lower rates.

Despite the tension, Trump acknowledged that Powell is unlikely to act in his favor but believes rate cuts will happen eventually. “He’d rather not because he’s not a fan of mine,” Trump added.

Trump’s reassurance may help calm markets worried by his aggressive trade tactics and unpredictability on monetary policy. His administration recently imposed sweeping tariffs, including a 10% rate on most countries and higher duties on specific imports from China, Canada, Mexico, and the EU.

Though Trump said the U.S. had “gone cold turkey” on trade with China, he claimed Beijing is eager to strike a new deal. As trade talks continue, over 15 countries are reportedly in negotiations to avoid further tariff hikes.