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Fortune
Fortune
Eleanor Pringle

Fed Chair Powell might have quietly won Trump’s one-sided war with the central bank after the president says he has ‘no intention’ of firing him

Donald Trump Jay Powell Jerome Powell Truth Social US Federal Reserve White House
Federal Reserve Chair Jerome Powell (Credit: Alex Wong—Getty Images)
  • Donald Trump backed off from his threats to fire Federal Reserve Chair Jay Powell after market volatility, confirming Powell would remain through his term ending in 2026. Investors grew concerned that the Oval Office's rhetoric may one day impact the independence of the central bank.

It seems Jay Powell will walk away unscathed from a months-long showdown with Donald Trump, after the president said he didn't plan on ousting Powell from his role as chairman of the Fed.

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