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Trump: There are currently no plans to dismiss Powell, and it is too early to discuss this in depth now.
Breaking News from Mars Finance: On January 15, U.S. President Trump stated on Wednesday that although the Department of Justice is conducting a criminal investigation into Federal Reserve Chair Jerome Powell, he currently has no plans to dismiss Powell. However, he also mentioned that it is “too early to say what final actions will be taken.” When asked if he would attempt to remove Powell from office, Trump told Reuters, “I currently have no such plans.” When asked whether this investigation provides him with a reason to do so, Trump added, “At the moment, we are in a ‘wait-and-see’ mode with him, and we will decide what to do. But I can’t go into details now. It’s too early, too soon.” Powell’s term as Federal Reserve Chair will end in May, but he will not need to leave the Federal Reserve Board in Washington until 2028. Trump hinted that he favors nominating former Federal Reserve Director Kevin Warsh or National Economic Council Director Kevin Hassett to succeed Powell. He also stated that he has ruled out the possibility of U.S. Treasury Secretary Scott Bessent taking the position, “because he wants to stay in his current role.” (Jin10)