S&P 500 Futures Rise Ahead of US Inflation Data and Bank Earnings 
Gaza Olive Harvest Collapses as War Destroys Farmland 
IMF Warns US Debt Crisis Needs Fiscal Action, Urges China to Boost Consumption 
Fed's Hammack Urges Faster Rate Hikes to Fight Inflation 
IMF Maintains 2027 Global Growth Forecast at 3.4% Amid Rising Risks 
Container Ship Sinks in Strait of Hormuz as Iran Attacks Escalate 
Elon Musk Donates $366 Million to 2026 US Midterms 
Netanyahu Rejects Preemptive Iran Strike Ahead of Israel Election 
Zelenskiy Says Ukraine Received No Warning Before Russian Missile Attack 
Gold Prices Rebound as Dollar Weakens Ahead of US Inflation Data 
Kim Jong Un Showcases ICBM Ahead of Possible Trump Meeting 
Trump Denies Russia and China Are Helping Iran in U.S. Conflict 
China Warns Taiwan Over South China Sea Coast Guard Incident 
MI5 Warns of Rising Iran, Russia Threats and AI Bioweapon Risks 
Gold Prices Mixed Ahead of US Inflation Data and Fed Rate Outlook 
Philippines Current Account Deficit Seen at $19.1 Billion in 2026 
Asian Stocks Plunge as AI Chip Selloff Hits South Korea and Japan 
Add as a preferred source on Google
President-elect Donald Trump has confirmed that Federal Reserve Chair Jerome Powell will not be removed from his position when Trump assumes office in January. However, Trump’s comments during an NBC interview suggest the possibility of future tension as he seeks to implement his economic agenda.
Trump’s Comments Signal Uneasy Truce
In an interview aired Sunday on Meet the Press, Trump stated, “No, I don’t think so. I don’t see it,” when asked if he would attempt to replace Powell. While the remark initially seemed to quell speculation about Powell’s removal, Trump added, “If I told him to, he would [leave]. But if I asked, he probably wouldn’t.”
Trump’s remarks underline a complex relationship between the two. Powell, a Republican appointed by Trump in 2018, faced heavy criticism from the president during his first term over the Federal Reserve’s monetary policies. Trump’s frustration peaked in 2018 when the Fed raised interest rates, prompting him to publicly question Powell’s competence and privately discuss firing him.
The tension between the two persisted, with Trump’s rhetoric often challenging the Fed’s independence. During the COVID-19 pandemic, Trump accused Powell of making “bad decisions” and hinted at asserting greater influence over the institution.
Potential Clashes Over Economic Policies
Despite confirming Powell’s position, Trump’s campaign promises could reignite disagreements with the Federal Reserve. His pledge to lower mortgage rates and reduce borrowing costs may conflict with Powell’s cautious approach to monetary policy.
Additionally, Trump’s vow to impose across-the-board tariffs on imports could further strain the Fed’s efforts to manage inflation. Economists warn that such tariffs could drive up prices, forcing the Fed to reconsider its current strategy of gradually lowering interest rates.
Recent economic data indicate a cooling U.S. labor market, leading traders to anticipate a quarter-percentage-point rate cut during the Fed’s December meeting. The reduction would place the policy rate in the 4.25%-4.50% range, significantly below its peak earlier this year.
Mixed Reactions Online
Trump’s confirmation of Powell’s role and his ambiguous remarks sparked varied reactions across social media:
- @EconWatcher: “Keeping Powell? Bold move, but will Trump really stay out of Fed decisions this time? Doubt it.”
- @FinanceGuru: “Powell staying put means stability for now, but Trump’s history suggests fireworks ahead. #FedDrama”
- @MarketAnalyst: “Trump and Powell: round two? Investors are bracing for another showdown. #FederalReserve”
- @PolicyCritic: “The Fed’s independence is crucial. Trump needs to respect it this term. #MonetaryPolicy”
- @StockTrader2024: “Rate cuts incoming, but can Powell hold the line against Trump’s interference? #Economy”
- @GlobalMarketNews: “Trump’s tariffs and Powell’s caution—can they coexist without market chaos? #TradeWars”
