President Donald Trump denied reports he is likely to fire Federal Reserve Chair Jerome Powell soon, as Bloomberg reported Wednesday.
"We're not planning on doing anything," Trump told reporters in the White House Oval Office for an unrelated state visit where he opened up questions.
"No, I'm not talking about that.
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"Fortunately, we get to make a change in the next eight months."
Trump also denied reports he had drafted a letter making a case for Powell's firing, only saying he "talked about the concept of firing" Powell with Republican lawmakers. He said they all nodded in agreement that he should.
Trump insists that inflation is low and has suggested anyone with a brain could be the Fed chair.
"It's not a tough job, to be honest, assuming you're smart," he said. "It might be one of the easiest jobs I've ever seen."
The meeting with members of the House took place in the White House's Oval Office Tuesday night.Trump communicated he was leaning in the direction of firing Powell, a source told The Associated Press.
The House Financial Services Committee canceled a previously planned meeting with Powell on Wednesday, but lawmakers on the panel contend it was due to planned votes on the Hour floor and unrelated to a potential impending resignation or ouster.
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Trump has repeatedly criticized Federal Reserve monetary policy in recent months, angry over the central bank's refusal to cut interest rates. Fed officials have resisted cutting rates until there is clarity on whether Trump's tariffs on U.S. trading partners reignite inflation.
Trump has called for Powell to resign, but it is unclear whether the president has the power to fire him over a monetary policy dispute.
"I'm only interested in low interest people," Trump told reporters, referring to his call keep interest rates low to save Americans an estimated $1 trillion on debt.
Powell was nominated by Trump in late 2017 to lead the Fed and then nominated for a second term by Democrat President Joe Biden four years later. Powell intends to serve out his term as Fed chief, which ends May 15, 2026.
Trump has oft-rebuked his first administration's Treasury Secretary Steven Mnuchin for having recommended Powell to be his Fed chair.
Last week, the White House intensified its criticism of how the Fed is being run when the director of the Office of Management and Budget, Russell Vought, sent Powell a letter saying Trump was "extremely troubled" by cost overruns in the $2.5 billion renovation of its historic headquarters in Washington.
Powell responded by asking the U.S. central bank's inspector general to review the project.
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Information from Reuters and AP was used to compile this report.
Eric Mack ✉
Eric Mack has been a writer and editor at Newsmax since 2016. He is a 1998 Syracuse University journalism graduate and a New York Press Association award-winning writer.