The debate over how Donald Trump would handle the Federal Reserve if re-elected is a hot topic on Wall Street. While Trump has stated he does not plan to fire Fed Chair Jay Powell, he added a conditional statement implying he could change his mind. Despite Trump's appointment of Powell, their relationship soured over interest rate policy. Trump was dissatisfied when Powell declined to cut rates to boost economic growth. President Biden ultimately reappointed Powell to a new four-year term in 2022. The question of whether Trump could legally remove Powell remains unanswered, but Trump's comments indicate he believes he has the option. The future of Trumponomics and its impact on the Federal Reserve continues to be a point of interest and speculation in the financial world.