President-elect Donald Trump has stated in an interview with NBC's 'Meet the Press' that he has no plans to replace Federal Reserve Chairman Jerome Powell before his term expires in May 2026. When asked if he would seek to remove Powell from his position, Trump responded, 'No. I don't think so. I don't see it.' Powell has previously noted that the president cannot legally remove him from office. This announcement comes after months of speculation and previous criticism from Trump regarding Powell's handling of interest rates.
