Trump reportedly told Powell's Fed that he was "stuck" with him

Saul Loeb | AFP | Getty Images

President Donald Trump signals the end of the ceremony after the announcement of Jerome Powell as a presidential candidate for the Federal Reserve at the Rose Garden White House in Washington on November 2, 2017.

President Donald Trump is not preparing for Federal Reserve Chairman Jerome Powell.

@realDonaldTrump: The only problem of our economy is the Fed. They do not have a clue about the market, they do not understand the trade wars, the strong dollars or even the democratic closures of the borders. The Fed is like a powerful golfer who can not score because he has no contact – he can not putter!

Despite repeated criticism from Trump, Powell said in a recent interview for "60 Minutes" that he did not think he could be fired by the president. He avoided commenting on the president's criticisms of the central bank's interest rate policy during the interview. When he was directly asked if he thought Trump could send him back, he replied "no".

"The law makes it clear that I have a four-year term and that I have every intention of serving it," Powell told CBS.

The FOMC's revival began in January. The committee said it planned to gradually reduce the reduction in its balance sheet and that it would be "patient" to raise rates. In March, the FOMC was more explicit about its policy and indicated that its previous forecast for two rate hikes in 2019 had been reduced to zero. He also pointed out that the reduction of the balance sheet would end in September. Markets responded to the news, as equities rebounded after their worst December performance since the Great Depression of 1931.

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