5 May | Dollar

Donald Trump refrained from dismissing Fed chair Powell

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.

Elena Dorohina MarketCheese
Period: 27.05.2025 Expectation: 50000 pips
Buying BTCUSD amid growing institutional adoption with target 110,000
Today at 12:21 PM 33
Elizabeth_Kuzmicheva
Elizabeth_Kuzmicheva

Listed among the best MarketCheese authors
1st in the segments "Metals" and "Oil and gas"
Period: 30.05.2025 Expectation: 5000 pips
Tesla shares correct after explosive gains
Today at 08:25 AM 24
Period: 22.05.2025 Expectation: 600 pips
AUDUSD will grow to 0.64900 amid US rating downgrade
Today at 08:20 AM 32
Gold buy
Period: 23.05.2025 Expectation: 6000 pips
US credit downgrade would send gold to 3290
Yesterday at 11:09 AM 129
Period: 26.05.2025 Expectation: 3000 pips
Fundamental factors constrain SPX's growth potential
Yesterday at 08:27 AM 53
Elizabeth_Kuzmicheva
Elizabeth_Kuzmicheva

Listed among the best MarketCheese authors
1st in the segments "Metals" and "Oil and gas"
Period: 23.05.2025 Expectation: 700 pips
Silver will drop to 31.7 amid de-escalation of US-China relations
Yesterday at 07:55 AM 30
Go to forecasts