President Trump floated the idea of firing Jerome Powell — whom he first appointed Federal Reserve chair — earlier this week, after years of on-and-off criticism over interest rates.

In 1997, billionaire Carlyle co-founder David Rubenstein hired a then-relatively unknown member of the George H.W. Bush administration named Jerome Powell. Over the course of eight years, Powell led the private equity firm's industrial group and was a partner.

After rumors spread that he was about to sack the Federal Reserve leader and stocks dropped, the president told reporters that he wasn't "planning on doing anything."

Jerome Powell's net worth is estimated to be between $20 and $50 million. Learn more about the Fed Chair's career and net worth.

US President Donald J. Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome H. Powell, but he kept the door open to the possibility and renewed his criticism of the central bank chief for not lowering interest rates.

Jerome Powell has been the Federal Reserve Chair since February 2018. Trump nominated Powell in 2017, but now calls for him to resign. Bessent is

His comments follow President Donald Trump’s intensified criticism of Federal Reserve Chairman Jerome Powell, accusing him of undermining the US economy with high interest rates, while simultaneously unveiling sweeping new tariffs targeting Canada, the European Union, Mexico, and Brazil.