U.S. President Trump stated that he will not fire Federal Reserve Chairman Powell but may have to take tough measures to push for interest rate cuts.
Trump said at the White House that if inflation is rising, he could accept the Fed raising interest rates, but now inflation has already decreased. He also mentioned that the government is seeking funding and he may have to take some tough actions.
Trump also criticized Powell for failing to cut interest rates, calling him an idiot, but indicated that he would not fire him. Trump also expressed dissatisfaction with rising oil prices.
Trump mentioned last week that he would soon make a decision regarding the next Federal Reserve Chair nominee.