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Al Jazeera
Al Jazeera
Politics

Trump backs off threat to fire Fed Chair Powell, as stock market surges

Donald Trump Jerome Powell United States Stock Market China the Federal Reserve Scott Bessent
US President Donald Trump speaks with reporters in the Oval Office of the White House in Washington, DC, on April 22, 2025 [Alex Brandon/AP Photo]

United States President Donald Trump has backed off his threat to fire the head of the US Federal Reserve, after his broadsides against the central bank boss prompted a plunge in the stock market and the dollar.

Trump’s comments on Tuesday appeared to rule out any imminent plans to remove Federal Reserve Chair Jerome Powell, whom the US president has repeatedly criticised for not moving faster to lower interest rates.

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