Trump: If re-elected as President of the United States, Powell will not be appointed as Fed Chairman

Former US President Donald Trump said in an interview with Fox Business on Friday that if he is re-elected in November, he will not appoint Jerome Powell as chairman of the Federal Reserve, stating that Powell's interest rate cuts were to help President Biden get re-elected. When asked why the stock market is performing so strongly despite the poor economic conditions under Biden's leadership, Trump said it was because the market is optimistic about his return to the White House: "Because they think I will be elected."