Set to run until May 2026, President-elect Donald Trump is expected to allow Federal Reserve Chair Jerome Powell in finishing his tenure, said a top advisor to CNN on Thursday. Though Trump has attacked Powell's earlier approach to interest rates, he now sees Powell's ongoing leadership at the Federal Reserve as a stabilizing factor in trying economic circumstances.
Originally hired by Trump in 2018, Powell has had a difficult relationship with the previous president, particularly in light of discussions on Fed interest rate policies, which Trump claimed hampered economic progress. Powell maintained bipartisan support, nevertheless, and President Joe Biden reappointed him in 2022.
Recently, Trump voiced worries over Federal Reserve policies, especially in relation to its closed-door policy discussions and delayed publication of meeting minutes. He supports live broadcasts of policy deliberations as well as real-time public access to these debates and meeting recordings, therefore deviating from the Fed's long-standing focus on confidentiality in its decision-making process.
