Republican presidential candidate and former U.S. President Donald Trump raises his fist during the first day of the Republican National Convention (RNC) at the Feather Forum in Milwaukee, Wisconsin, U.S., July 15, 2024.
Elisabeth Franz | Reuters
Republican presidential candidate says he will allow Fed Chairman Jerome Powell to finish his term at the central bank if Donald Trump wins the November election Bloomberg Businessweek in an interview.
“I’ll let him serve, especially if I think he’s doing the right thing,” Trump told Bloomberg Businessweek. President Joe Biden nominates Powell for president second four-year term He will serve as Chairman of the Federal Reserve in May 2022.
Powell is also a member of the Federal Reserve Board and will serve until January 31, 2028.
The comments marked a U-turn for the former governor, who had a strained relationship with the central bank chief.
Powell took over as Fed chairman in February 2018 and faced criticism from then-President Trump over the years on interest rate policy.
Back in 2019, Trump criticized central banks and their leaders — even as a policymaker Cut interest rates three times That year, the target range was ultimately set at 1.5% to 1.75% — arguing that the United States was economically disadvantaged relative to other countries with lower interest rates.
Just in February this year, Trump also said Fox Business He will not re-appoint Powell to lead the Fed. “I think he is political,” he told journalist Maria Bartiromo. “I think if he lowers rates, he’s going to do something that might help Democrats.”
