Trump denies speculation he will dismiss Fed chief Powell

US President-elect Donald Trump has dismissed speculation that he will replace Jerome Powell before the end of the Fed chief's term.

Trump commented in an interview with NBC television on Sunday. He said "no" to the question about firing Powell. Trump added, "If I asked him to, he probably wouldn't." Trump appointed Powell in his first term as Federal Reserve chair.

But he later criticized the central banker for keeping interest rates at levels Trump said were too high.

There have been rumors that the president-elect would dismiss Powell upon taking office in January. Powell's term ends in May 2026. He said last month that dismissing a Fed chair early is "not permitted under the law."