President Donald Trump confirmed Tuesday that Federal Reserve Chairman Jerome Powell will stay in his post, despite recent tensions over interest rate policy and concerns about the economic impact of Trump’s sweeping tariffs.

Speaking from the Oval Office, Trump told reporters he had “no intention” of firing Powell, even as he urged the Fed to act more aggressively in slashing rates. “We think the Fed should lower the rate,” Trump said. “We think that it’s a perfect time to lower the rate.”

“I’d like to see our chairman be early or on time, as opposed to late. Late’s not good,” Trump added. “But I don’t want to talk about that because I have no intention of firing [him].”

The remarks come after Powell expressed caution about the full economic impact of Trump’s April 2 tariff hike on foreign imports. Powell noted that the long-term inflation effects of the tariffs remained uncertain, particularly as global supply chains react.

But Trump maintained a confident tone Tuesday, touting progress on inflation and a string of recent economic indicators.

“Prices are going down, not going up,” Trump said. “One of the big things is energy is going down. I see that we had a couple of states where gasoline was at $1.98 a gallon. Nobody thought they’d see that for years, maybe.”

The president attributed the price drop to his administration’s decision to increase domestic energy production. “We opened up our wells. We opened up our drilling,” he said. “We have more product now for sale. We’re also going to be selling outside of the country to a large extent. It’s going to bring down our deficits.”

Trump also pointed to the cost of everyday goods, including eggs, as evidence that his economic policies are working. “It’s all coming down,” he said.

Though Trump has publicly pressed the Fed to cut rates faster, Powell has thus far resisted immediate action. But with energy prices falling and the Producer Price Index showing a 0.4% decline in March, some economists believe the central bank may soon come under greater pressure to act.

The administration is banking on continued economic momentum as it rolls out tariff reforms and balances monetary policy with supply-side strategy. Trump has already paused his latest wave of tariffs for 90 days on most countries—excluding China—in an effort to stabilize markets.

That move sparked an immediate rally on Wall Street, calming fears of a prolonged trade disruption. Still, the Fed has remained cautious, choosing to wait for clearer long-term indicators before adjusting rates.

Trump’s message Tuesday signaled that while disagreements may remain, Powell’s job is safe—for now.

With the economy at the center of Trump’s re-election narrative and inflation finally receding, the president is aiming to show steady leadership while pushing the Fed toward more aggressive pro-growth moves.

As one White House aide put it, “We’re seeing results—and the president wants to keep the momentum going.” And with Powell still in place, all eyes now turn to whether the Fed will follow Trump’s lead and cut rates in the months ahead.