President Trump stated he has "no intention" of firing Federal Reserve Chair Jerome Powell, quelling speculation that had unsettled financial markets. Despite this assurance, Trump argued that it is an ideal time to lower interest rates. His recent criticisms of Powell included frustrations about the Fed's cautious stance on lowering rates, especially amidst the backdrop of Trump's tariffs affecting the economy. Trump maintains that tariffs benefit the U.S. economy, contrary to Powell's concerns over inflation and economic stability, which could hinder cooperative monetary policy.
President Trump asserted on Tuesday that he has "no intention" of firing Federal Reserve Chair Jerome Powell, amidst criticism of interest rate policies.
Despite previous speculation about Powell's future, Trump emphasized that it is a "perfect time to lower interest rates."
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