US President elect Trump has stated that he will not attempt to replace Federal Reserve Chairman Powell. Powell's term ends in May 2026.

When asked in an exclusive interview with host Welker if he plans to shorten the term of the Federal Reserve Chairman, Trump said, "I don't intend to

During an interview at Trump Tower in New York, Trump was asked, "Federal Reserve Chairman Powell said he wouldn't resign even if you asked him to. Would you try to replace Powell?" Trump replied, "No, I don't think so, I can't see

Welker continued, "Don't you have plans to do this now?" Trump said, "No, I don't

In February 2018, Trump appointed former private equity executive and Republican Powell as Chairman of the Federal Reserve System Board of Governors. Not long after, in a dispute over interest rates, Trump proposed to dismiss him.

During Trump's first term, the two had several conflicts and Trump repeatedly threatened to dismiss him. In 2022, President Biden reappointed Powell for a second four-year term.

Powell sharply said 'no' to recent questions about whether he will resign early to allow Trump to select a successor more quickly. He also stated that he does not believe Trump can dismiss him. Powell said at a press conference after the election, "The law does not allow this

After Trump takes office, his relationship with Powell will be closely monitored. Trump fiercely criticized Powell during his first term, believing that he did not act quickly enough to relax monetary policy.

In March 2020, at the beginning of the pandemic, Trump once again criticized Powell, telling reporters that he had the right to "dismiss" Powell from his position and criticizing what he said was "many wrong decisions in my opinion.

Trump recently argued that the president should have the right to participate in the interest rate decisions made by the Federal Reserve.

Trump said in October, "I don't think I should be allowed to give orders, but I think I have the right to comment on whether interest rates should rise or fall

When it comes to Powell's job, Trump said, "You come to the office once a month and say, 'Let's flip a coin,' and then everyone talks about you like a god