U.S. President Donald Trump expressed that he wishes Jerome Powell, Chair of the Federal Reserve (Fed), would step down, while also mentioning concerns that direct dismissal could lead to market turmoil.
On the 16th (local time), according to Reuters, President Trump, in an interview with the conservative news site "Real America’s Voice," stated, "It would be good if Powell voluntarily resigns," adding that "there are concerns that firing him could lead to turmoil in the market."
After a meeting with the Prime Minister of Bahrain, President Trump also addressed the rumors of Powell's dismissal during a meeting with reporters at the White House. He noted that "nothing is excluded," but mentioned that unless there are special reasons such as fraud related to the maintenance of the Fed building, the possibility of dismissal is very low.
He added, "There are no plans for dismissal," and emphasized, "We are not planning anything."
President Trump has raised concerns about the expense of approximately $2.5 billion to $2.7 billion incurred for the recent renovation of the Fed's headquarters. He claimed, "There may have been fraud involved in the high maintenance expenses," and stated, "He did not even receive proper approval for that construction."
The term of the Fed Chair is guaranteed by law, and dismissal during the term could lead to controversies over political independence. This has led to interpretations that President Trump intends to induce a voluntary resignation rather than a direct dismissal.
Meanwhile, President Trump noted in the interview that a trade agreement with India is imminent and that coordination is also taking place with the European Union (EU). However, he stated, "It is still too early to mention negotiations with Canada."
He also mentioned that there is a possibility of imposing reciprocal tariffs of 10% or 15% on relatively small countries.