The Fed chair Powell shouldn’t be launched, however ought to decrease rates of interest

US President Donald Trump speaks on April 22, 2025 in the White House in Washington, DC, USA.

Kevin Lamarque | Reuters

President Donald Trump said on Tuesday that he “had no intention” to relieve the chairman of the Federal Reserve Jerome Powell before his term of office ends the US Central Bank next year.

“Nobody at all,” said Trump in the Oval Office when he was asked to clarify that he did not apply for Powell's distance. “Never did.”

The comment is a dramatic change for Trump, which recently increased his rhetoric against Powell and refused to rule out the opportunity to take the unprecedented step of discharge.

According to Trump's latest comments, the US stocks grew strongly into the most important indices.

Trump, who has accumulated the pressure on the Fed chair to reduce interest rates in the hope of economic growth, said from Powell last week: “If I want to get him out of there, he will be outside very quickly.”

The chairman of the Federal Reserve, Jerome Powell, drives during an Economic Club of Chicago on April 16, 2025 in Chicago, Illinois, with Dr. Raghuram Rajan, a professor of finances at the Booth School of the University of Chicago.

Vincent Alban | Getty pictures

The White House's economic advisor, Kevin Hassett, said on Friday, Trump and his adjutants actively studied the opportunity to dismiss Powell.

Powell, whom Trump appointed as President during his first term, is said to act as Fed chairman until May 2026. He said circular that the president cannot remove him in accordance with the law.

Trump released his most brandy criticism of Powell on Monday, described him as a “Major Loser” and asked him to immediately reduce interest rates.

But when Trump was asked about Powell on Tuesday afternoon, Trump said: “The press runs away with things.”

Read more CNBC policy reporting

“No, I don't have the intention of releasing him,” said Trump to reporters, after Paul Atkins as chairman of the US Securities and Exchange Commission in Paul Atkins.

“I would like to see that he is a bit more active in terms of his idea to reduce interest rates,” added the president. “This is a perfect time to lower interest rates.”

Trump's statements came after the large US stock indices were significantly higher and on Monday by a steep sale, which was at least partially associated with the fears that were enthusiastic about Trump's attacks on Powell.

Some critics and analysts warn that the president would cause panic to the chairman of the Federal Reserve, which is traditionally operated with independence from the government.

– Erin Doherty from CNBC contributed to this report.