WASHINGTON − President Donald Trump denied that he's close to firing Federal Reserve chairman Jerome Powell after telling Republican lawmakers in a closed-door meeting that he would likely make the move.
"No, I'm not talking about that. Fortunately, we get to make a change in the next eight months or so," Trump told reporters on July 16, referring to the conclusion of Powell's term as chairman, which ends in May of 2026.
Trump informed Republican lawmakers in an Oval Office meeting Tuesday night that would likely soon fire Powell after the president polled them on what he should do, a senior White House official told USA TODAY.
"Almost all of them said I should, but I'm more conservative," Trump said of the meeting, calling recent news reports that he's moving toward firing Powell "not true."
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For months, Trump has criticized Powell for not lowering interest rates, labeling the Fed chairman "too late" for holding interest rates steady.
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