President Trump now says he has “no intention” of firing Federal Reserve Chair Jerome Powell, despite calling him a “major loser” just days ago. Trump’s sudden reversal—delivered in the Oval Office—comes after sharp criticism and market turbulence. Wall Street surged on the news, as fears of a central bank shakeup faded. Trump had previously accused Powell of failing to cut interest rates. The about-face follows internal White House talks on removing Powell, who is legally protected until 2026. Critics warned that firing him could destabilize the entire financial system.
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NewsTranscript
00:00The idea to lower interest rates, this is a perfect time to lower interest rates.
00:05If he doesn't, is it the end? No, it's not.
00:08But it would be a good time, and it would be, it would, she could have taken place earlier.
00:12But no, I have no intention to fail.
00:30The idea to lower interest rates, this is a perfect time to lower interest rates.
00:36If he doesn't, is it the end? No, it's not.
00:40But it would be good timing, it would be, it would, she could have taken place earlier.
00:44But no, I have no intention to fire him.
00:47I don't want to comment on that, that doesn't matter.
00:51Mr. President, you said, when can you decide the UFC that means the race, the rest of the month?
00:56Which, uh, can I?
00:56The UFC class?
00:58I don't know, I'll speak to the Attorney General about that.
01:28The UFC the UFC.
01:49The UFC.