U.S. President Donald Trump reversed his earlier stance on firing Jerome Powell, Chairman of the Federal Reserve, stating on the 22nd (local time), "I have no intention of firing him."
President Trump met with reporters in the Oval Office that day and said, "I do not intend to fire him (Powell)" and added, "I think now is a perfect time to lower interest rates, but the world won't end if he does not."
He emphasized again that "it is not good for the Federal Reserve Chairman to move too late, but I do not consider dismissal." This statement contradicts Trump’s public warning on the 17th that he would "fire (Chairman Powell) if he does not lower interest rates."
This change in Trump’s stance is interpreted as a response to concerns about the U.S. economic market. After President Trump hinted at Powell's dismissal, the U.S. stock market plummeted. Concerns about the political independence of the Federal Reserve also led to instability in interest rates and the value of the dollar.
Meanwhile, President Trump commented on trade negotiations with China, saying, "The tariff once rose to 145%, but it won't stay that high," and added, "It will come down significantly, but it won’t be zero (0) like in the past."
He continued, "We are doing well with China. China wants what we have," stating that "if China wants to continue doing business in the U.S., negotiations are necessary, otherwise we will set the conditions."