Former U.S. President Donald Trump said he would not seek to remove Federal Reserve Chairman Jerome Powell before his term as central bank chief ends and would consider appointing JPMorgan Chase CEO Jamie Dimon as Treasury secretary if he wins the Nov. 5 election. Bloomberg in an interview Published on Tuesday.
JPMorgan declined to comment on Trump’s remarks. Powell’s term as Fed chairman runs through January 2026, and his tenure as Fed governor runs through 2028. The interview was conducted in late June, according to Bloomberg.
Trump said the Federal Reserve should refrain from cutting interest rates before the November election in which Republican presidential candidate Joe Biden faces Democrat Joe Biden.
Trump also said during the interview that he would cut the corporate tax rate to 15% and that he no longer plans to ban the social media app TikTok.
In addition to targeting China with new tariffs ranging from 60% to 100%, Trump said he would impose a 10% tariff on imports from other countries, citing complaints that foreign countries are not buying enough American goods.
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