U.S. President Donald Trump has reversed course and announced that Federal Reserve Chairman Jerome Powell will remain in his position until the end of his term in May 2026. In an interview with NBC, Trump said that Powell 'is not his fan,' but he expects the Fed to lower interest rates relatively soon. 'Well, he needs to lower it. And at some point he will. He just prefers not to because he's not my fan. You know, he just doesn't like me,' the president said.