WASHINGTON: President Donald Trump said on Tuesday he has no plans to fire Federal Reserve Chair Jerome Powell, but said he wants interest rates to be lower, remarks that could defuse tensions over the central bank chief’s future that have rattled investors.
“I have no intention of firing him,” Trump told reporters in the Oval Office on Tuesday. “I would like to see him be a little more active in terms of his idea to lower interest rates,” he added.
Trump’s statement was the first de-escalation after days of withering criticisms he has lobbed at Powell for not further cutting interest rates since Trump resumed office in January.
The broadsides were often accompanied by threatening remarks, such as last week’s social media posting that Powell’s termination as Fed chair “cannot come fast enough,” that spooked financial markets that view the Fed’s independence as underpinning its credibility on the global financial stage.
But while he seems to have set aside those threats for now, his criticisms of Fed rate policy remain just as pointed.
“We think that it’s a perfect time to lower the rate, and we’d like to see our chairman be early or on time, as opposed to late,” Trump said.
Trump: No plans to fire Fed Chair Powell, but wants lower rates
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Trump: No plans to fire Fed Chair Powell, but wants lower rates
- “I have no intention of firing him,” Trump told reporters in the Oval Office on Tuesday
Ukraine president to meet European allies after Trump criticism
- Talks between Ukrainian and US officials in Miami ended on Saturday with no apparent breakthrough
- President Donald Trump accuses Ukrainian leader of not reading the US proposal to end the war with Russia
LONDON: Ukrainian leader Volodymyr Zelensky was due to meet with European allies in London on Monday, after President Donald Trump accused him of not reading the US proposal to end the war with Russia.
It comes after days of talks between Ukrainian and US officials in Miami ended on Saturday with no apparent breakthrough, with Zelensky committing to further negotiations.
The Ukrainian president will be received in London by British Prime Minister Keir Starmer, along with the German chancellor and French president to discuss the negotiations.
British Foreign Secretary Yvette Cooper is meanwhile expected in Washington on Monday, where she will meet her American counterpart Marco Rubio.
“The UK and US will reaffirm their commitment to reaching a peace deal in Ukraine,” the Foreign Office in London said, announcing Cooper’s visit.
Moscow has meanwhile continued to strike its neighbor, wounding at least nine people overnight Sunday to Monday, according to Ukrainian officials.
‘Disappointed’
Zelensky said he joined his negotiators for a “very substantive and constructive” call with US envoys Steve Witkoff and Jared Kushner during the Miami negotiations.
“Ukraine is committed to continuing to work honestly with the American side to bring about real peace,” Zelensky said on Telegram, adding that the parties agreed “on the next steps and the format of the talks with America.”
But Trump criticized his Ukrainian counterpart on Sunday, telling reporters “I have to say that I’m a little bit disappointed that President Zelensky hasn’t yet read the proposal, that was as of a few hours ago.”
Witkoff and Kushner had met Russian President Vladimir Putin at the Kremlin last week, with Moscow rejecting parts of the US proposal.
French President Emmanuel Macron ahead of Monday’s talks slammed what he called Russia’s “escalatory path.”
“We will continue these efforts with the Americans to provide Ukraine with security guarantees, without which no robust and lasting peace will be possible,” Macron wrote on X.
He added: “We must continue to exert pressure on Russia to compel it to choose peace.”
Hot and cold
Washington’s initial plan to bring an end to the almost four-year war involved Ukraine surrendering land that Russia has not been able to win on the battlefield in return for security promises that fall short of Kyiv’s aspirations to join NATO.
But the nature of the security guarantees that Ukraine could get has so far been shrouded in uncertainty, beyond an initial plan saying that jets to defend Kyiv could be based in Poland.
Trump has blown hot and cold on Ukraine since returning to office in January, initially embracing Putin and chastising Zelensky for not being grateful for US support.
But he has also grown frustrated that his efforts to persuade Putin to end the war, including a summit in Alaska, have failed to produce results and he recently slapped sanctions on Russian oil firms.
