Donald Trump refrained from dismissing Fed chair Powell

US President Donald Trump refused to fire Jerome Powell as Chairman of the Federal Reserve Board (Fed) until the end of his term in May 2026. Moreover, the president also insisted that the regulator would cut interest rate in the near future.

According to Trump’s statements, his previously imposed measures to change the global trading system, including new tariffs, can increase the welfare of US residents. Speaking about the contraction of the economy in the first quarter of the year, the President noted the impact of the policies of the country’s former head Joe Biden.

Currently, the President’s administration is negotiating trade deals with over 15 countries. Such deals will help countries to avoid the employment of new duties from the United States.

Comments on the current Fed Chief aired on Sunday could have a positive effect on the markets, Reuters said.