President Trump said he has “no intention” of firing Federal Reserve Chair Jerome Powell before his term ends in 2026, despite previously harsh criticism and hints at removal.

The comment marked a shift in tone after Trump recently called Powell a “major loser” and pushed for immediate interest rate cuts.

U.S. markets rebounded following Trump’s assurance, easing concerns over potential interference with the Fed’s independence, CNBC has reported.

Written by B.C. Begley