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Trump says he won’t fire Fed’s Powell but ’may have to force something’ on rates

Published 06/12/2025, 11:55 AM
Updated 06/12/2025, 02:26 PM
© Reuters. FILE PHOTO: U.S. President Donald Trump signs a resolution at the White House in Washington, D.C., U.S., June 12, 2025. REUTERS/Evelyn Hockstein/ File Photo

WASHINGTON (Reuters) -U.S. President Donald Trump on Thursday said he would not fire Federal Reserve Chair Jerome Powell, adding that he "may have to force something" as part of his ongoing push for the central bank to lower rates. 

"Raise your rates. You don’t have to keep them up here. If it’s going to go up, I’m okay with you raising--but it’s down, and we’re going out to financing, and I may have to force something," he said at the White House.

Trump last week had said that a decision on the next Fed chair would come very soon.

Speaking at the White House on Thursday, Trump slammed the Fed chair over the lack of rate cuts, calling him a numbskull but adding: "I’m not going to fire him."

Trump also said he was unhappy about rising oil prices.

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