In an interview that was released on Tuesday, US presidential candidate Donald Trump stated that if Federal Reserve Chair Jerome Powell were to return to the White House, he would allow Powell to finish his four-year term until 2026.
“I would let him serve it out, especially if I thought he was doing the right thing,” Trump told Bloomberg Businessweek, according to CNBC’s website.
It was revealed in April that Trump’s campaign aides were formulating a number of suggestions to undermine the US central bank’s independence, the most extreme of which called for the chairman to be fired.
Powell, whom Trump appointed to lead the Fed during his White House tenure, is frequently criticized by the president.
Powell’s intention to cut interest rates in 2024 was criticized by the Republican in February, who claimed it would aid the Democratic Party in winning the presidency.
If elected president, he further declared that he would not re-appoint him.
Barack Obama, a Democrat, appointed Powell to the Federal Reserve board of governors for the first time in 2012.
President Joe Biden chose him to run the financial institution for a second term in 2022 after Trump appointed him to that position in 2018.
Powell will serve out his 14-year tenure on the Fed board of governors until 2028.
