Trump says he may change his mind about firing Fed Chair Powell

US President Donald Trump on June 20 again floated the idea of firing Jerome Powell, the Federal Reserve chair he has long attacked over interest rates he wants lowered, Report informs via Reuters.

"I don't know why the Board doesn't override (Powell)," Trump wrote in a lengthy post on Truth Social criticizing Fed policy. "Maybe, just maybe, I'll have to change my mind about firing him? But regardless, his Term ends shortly."

Trump added: "I fully understand that my strong criticism of him makes it more difficult for him to do what he should be doing, lowering Rates, but I've tried it all different ways."

Fed chairs have long been seen as insulated from presidential dismissal for reasons other than malfeasance or misconduct, but Trump has threatened to test that legal premise with frequent threats to fire Powell.

Trump nearly as frequently reverses course on those threats. "I'm not going to fire him," he said at the White House on June 12.

The Fed held rates steady on Wednesday in the 4.25%-4.50% range and forecast slower growth as well as higher unemployment and inflation by year's end.