US President Donald Trump did not rule out the possibility of demanding the dismissal of Federal Reserve Chairman Jerome Powell, since the financial regulator is not reducing the base interest rate.
"I may have to reconsider the possibility of firing him. But his term as head of the Fed is ending soon anyway", the American leader wrote on his page on the social network Truth Social.
Trump has previously stated several times that he does not plan to demand the resignation of Powell, whose term as Fed chairman expires in May 2026.
The US President once again sharply criticized Powell for not lowering the base interest rate. According to Trump, such a move would allow the United States to save up to $1 trillion annually.
The American leader called Powell a “stupid man“ and emphasized: “I don't understand why the Fed Board didn't fire this complete idiot“.
After the June meeting, the Federal Reserve again kept interest rates at 4.25-4.5%.