United States President Donald Trump avoided defending the resignation of Federal Reserve President Jerome Powell, despite. “The costs came out of control, and this happens in works,” he normalized, after a walk at the Central Bank headquarters, accompanied by the head of the monetary authority.
Trump also stated that “there is no pressure for Powell to resign” and said he believed he will “do the right thing, perhaps a little” too late, “repeating his nickname to refer to the Fed President. For” right thing, “Trump referred to the interest cut. Still, he admitted to “one, two or maybe three people” in mind to replace him when Powell’s term end in May 2026.
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Asked if the increase in reform costs would justify Powell’s removal, he replied: “I don’t want to put it in this category. The costs came out of control, and that happens.” According to him, dismissing the Fed president “would be a very large movement and I don’t think it’s necessary.” Speech represents a change in the tone adopted by the Republican in recent months.
Fed’s headquarters reform
United States President Donald Trump again stated that the value of the renovation of the Federal Reserve building (Fed) “rose a lot” from $ 2.5 billion to “$ 3.1 billion”. During the Republican visit to the US BC headquarters, he showed a piece of paper with the costs of renovation of the building to the institution’s head, Jerome Powell, who reacted with apparent disapproval of Trump’s gesture.
“It’s a very expensive job in this renovation of the building. A pity that has already started,” added Trump. When questioned briefly about the critical tone he has adopted against Powell, he merely answered that he wants “lower interest rates.” “We will see how the Fed advice will act on interest.”
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About commercial agreements, in turn, Trump again exalted the pact achieved with Japan and added that the US is “doing very well with the European Union” in the negotiations.
