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Dow Jones NewsApr 22, 10:08 PM UTC
DJ Trump Says He Has 'No Intention' of Firing Fed Chair Powell -- 2nd Update
By Brian Schwartz, Nick Timiraos and Tarini Parti
President Trump said he is not planning to fire Federal Reserve Chairman Jerome Powell -- and he signaled that tariffs on China could be lowered.
"I would like to see him be a little more active in terms of his idea to lower interest rates ... but, no, I have no intention to fire him," he told reporters in the Oval Office.
Trump's comments came after he lashed out at Powell in recent days, writing on social media last week, "Powell's termination cannot come fast enough!"
But on Tuesday, Trump dismissed recent comments by Kevin Hassett, the director of the National Economic Council, that the administration was studying whether the president could fire Powell.
"I would like to see him be a little more active in terms of his idea to lower interest rates. This is a perfect time to lower interest rates. If he doesn't, is it the end? No. It's not," Trump said.
Trump has privately raised the possibility of firing Powell to advisers in recent months. Last week, he expressed confidence that he had the authority to oust Powell. "If I want him out, he'll be out of there real fast, believe me," Trump said. And he renewed his criticism of Powell on Monday. Trump's social-media posts about Powell have triggered market volatility.
The president also told reporters that 145% tariffs on China are "very high."
"It won't be that high," Trump said. "It will come down substantially. But it won't be zero. It used to be zero."
Write to Brian Schwartz at brian.schwartz@wsj.com and Tarini Parti at tarini.parti@wsj.com
(END) Dow Jones Newswires
April 22, 2025 18:08 ET (22:08 GMT)
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