Trump admits that firing the central bank chief would destabilize the market

Federal Reserve Chairman Jerome Powell answers questions from reporters following the regular Federal Open Market Committee meetings at the Fed on July 30, 2025 in Washington, DC. (Getty Images via AFP)
Short Url
Updated 02 August 2025
Follow

Trump admits that firing the central bank chief would destabilize the market

WASHINGTON: US President Donald Trump said on Friday that Federal Reserve Chair Jerome Powell will “most likely” stay in his position even as Trump sharply criticized the Federal Reserve’s policies.

In an interview with Newsmax that aired on Friday, Trump said he would remove Powell “in a heartbeat” and said the Fed’s interest rate was too high but added that others have said Powell’s removal would “disturb the market.”
“He gets out in seven or eight months and I’ll put somebody else in,” Trump said. 

In a post on his Truth Socia platform earlier, Trump said “Powell should resign, just like Adriana Kugler, a Biden Appointee, resigned.” 


Hungary PM to attend Trump’s ‘Board of Peace’ inaugural meeting

Updated 4 sec ago
Follow

Hungary PM to attend Trump’s ‘Board of Peace’ inaugural meeting

  • Orban attended the launch of the initiative last month in the Swiss ski resort of Davos
  • “Two weeks from now we will meet again in Washington,” he said

BUDAPEST: Hungarian Prime Minister Viktor Orban said Saturday that he will be going to Washington “in two weeks” to attend the first meeting of US President Donald Trump’s “Board of Peace.”
Although originally intended to oversee Gaza’s rebuilding, the board’s charter does not seem to limit its role to the Palestinian territory and appears to want to rival the United Nations.
One of the US leader’s closest allies in the European Union, the nationalist Orban attended the launch of the initiative last month in the Swiss ski resort of Davos.
“Two weeks from now we will meet again in Washington, because the Board of Peace, the peace body, will have an inaugural meeting,” he told a campaign event in the western town of Szombathely.
Permanent members must pay $1 billion to join, leading to criticism that the board could become a “pay to play” version of the UN Security Council.
Orban — currently the longest-serving national leader in the EU — faces an unprecedented challenge at a general election slated for April 12.
Independent polls show the opposition led by Peter Magyar, an ex-government-insider-turned-critic, is ahead with a stagnating economy and growing discontent with public services, among key issues.