Powell Advocates for Robust Economy and Inflation Control Ahead of 2026 Exit
President Donald Trump addresses the Fed rate cuts and inflation in a roundtable with business leaders.
As Federal Reserve Chairman Jerome Powell approaches the end of his term, he remains focused on the immediate goals of stabilizing the economy rather than reflecting on his legacy. In a press conference held on December 10, following the central bank’s interest rate decision, Powell stated, “I really want to turn this job over to whoever replaces me with the economy in really good shape. That’s what I want.”
Powell emphasized his commitment to controlling inflation and maintaining a robust labor market. “I want inflation to be under control, coming back down to 2%. And I want the labor market to be strong,” he reiterated during the conference.
Jerome Powell was appointed by President Donald Trump in 2017. (Al Drago/Bloomberg / Getty Images)
Having served as the head of the central bank for nearly eight years, Powell’s term is set to conclude in May 2026. He declined to comment on whether he would continue on the Federal Reserve Board of Governors after his term ends.
When pressed about his future, Powell stated, “I’m focused on my remaining time as chair. I haven’t got anything new on that to tell you.”
POWELL DECLINES TO WEIGH IN ON POTENTIAL SUCCESSORS AS TRUMP EYES NEXT FED CHAIR
A man walks past the U.S. Federal Reserve in Washington, D.C. (Ting Shen/Xinhua / Getty Images)
In response to a question from FOX Business regarding whether President Donald Trump’s public search for a new Fed chair impacts his ability to perform his duties, Powell replied firmly, “No.”
The issue of succession is particularly pressing as Trump considers potential candidates to lead the world’s most influential central bank. Recently, Trump identified former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett as his top choices.
President Donald Trump has placed the blame largely on Powell for the state of the economy. (Aaron Schwartz/CNP/Bloomberg / Getty Images)
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Trump has also expressed that he has a “very good idea” of what he seeks in the next Fed chair. “I’m looking for somebody that will be honest with interest rates,” he remarked to reporters at the White House. “Our rates should be the lowest rates in the world.”
President Donald Trump addresses the Fed rate cuts and inflation in a roundtable with business leaders.
As Federal Reserve Chairman Jerome Powell approaches the end of his term, he remains focused on the immediate goals of stabilizing the economy rather than reflecting on his legacy. In a press conference held on December 10, following the central bank’s interest rate decision, Powell stated, “I really want to turn this job over to whoever replaces me with the economy in really good shape. That’s what I want.”
Powell emphasized his commitment to controlling inflation and maintaining a robust labor market. “I want inflation to be under control, coming back down to 2%. And I want the labor market to be strong,” he reiterated during the conference.
Jerome Powell was appointed by President Donald Trump in 2017. (Al Drago/Bloomberg / Getty Images)
Having served as the head of the central bank for nearly eight years, Powell’s term is set to conclude in May 2026. He declined to comment on whether he would continue on the Federal Reserve Board of Governors after his term ends.
When pressed about his future, Powell stated, “I’m focused on my remaining time as chair. I haven’t got anything new on that to tell you.”
POWELL DECLINES TO WEIGH IN ON POTENTIAL SUCCESSORS AS TRUMP EYES NEXT FED CHAIR
A man walks past the U.S. Federal Reserve in Washington, D.C. (Ting Shen/Xinhua / Getty Images)
In response to a question from FOX Business regarding whether President Donald Trump’s public search for a new Fed chair impacts his ability to perform his duties, Powell replied firmly, “No.”
The issue of succession is particularly pressing as Trump considers potential candidates to lead the world’s most influential central bank. Recently, Trump identified former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett as his top choices.
President Donald Trump has placed the blame largely on Powell for the state of the economy. (Aaron Schwartz/CNP/Bloomberg / Getty Images)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Trump has also expressed that he has a “very good idea” of what he seeks in the next Fed chair. “I’m looking for somebody that will be honest with interest rates,” he remarked to reporters at the White House. “Our rates should be the lowest rates in the world.”
