A report 📄 stated that US President-elect Donald Trump may allow Federal Reserve Chairman Jerome Powell to complete his term, which is scheduled to end in May 2026 📅.
According to CNN, citing a Trump adviser on Thursday, the president and his economic team currently believe that Powell should stay in office, especially as he continues to cut interest rates. However, the adviser indicated that Trump may change his mind in the future.
This comes after previous threats by Trump to dismiss Powell from his position 🛑, a decision that no US president has ever taken before him 🏛️. Trump criticized the Federal Reserve's approach, considering that it lacks transparency and holds its meetings in secret 🔒, then publishes their minutes weeks later ⏳.
In July, when Powell was asked if he intended to stay on until the end of his term, he said “yes” ✅, and he reiterated that after today’s Policy Council meeting, stating that his removal was not in accordance with the law ⚖️.