French Finance Minister Warns Against Dismissal of Jerome Powell
The Finance Minister of France, Eric Lombard, issued a strong warning about the potential dismissal of the President of the U.S. Federal Reserve, Jerome Powell. In an interview with *La Tribune Dimanche*, Lombard stated that firing Powell would seriously damage the credibility of the U.S. dollar and risk destabilizing the U.S. economy.
The warning comes amid rising tensions between former President Donald Trump and Powell. Trump has repeatedly criticized Powell for not lowering interest rates and hinted at the possibility of removing him before the end of his term in 2026. White House advisor Kevin Hassett recently confirmed that Trump is exploring legal avenues to do so.
Lombard cautioned that such a move would signal political interference in monetary policy, leading to higher borrowing costs and long-term economic instability. “It would damage global confidence in the U.S. dollar,” he said, adding that it could force urgent international discussions to address financial risks.
Financial analysts also note that markets are nervous, with fears that Powell's removal could trigger unpredictable volatility, similar to previous shocks from the trade war.
Lombard's remarks highlight the growing international concern over political pressure on central banks and its impact on global economic stability.