Fed chair won't go, good parts of economy his doing: Trump

US PRESIDENT DONALD Trump said he will not remove Jerome Powell as Federal Reserve Board chairman before his term ends in May 2026 while describing the central banker as "a total stiff" and repeating calls for the Fed to lower interest rates.

- REUTERS

Trump insisted that his moves to upend the global trading system with higher tariffs would eventually make Americans rich, and insisted that a first-quarter contraction in the US economy was the result of former President Joe Biden's policies.

In an interview, Trump said he expected the Fed to lower interest rates at some point.

"Well, he should lower them. And at some point, he will. He'd rather not because he's not a fan of mine. You know, he just doesn't like me because I think he's a total stiff," he said in the interview.