What Trump’s Win Means for the Federal Reserve and Jerome Powell NYT | Top Stories Jeanna Smialek 7 November 2024 at 18:04 Donald J. Trump spent his first presidency on a collision course with America’s central bank. Will it intensify? © Tom Brenner for The New York TimesPresident-elect Donald J. Trump elevated Jerome H. Powell, the Fed chair, to his current role in early 2018, but later soured on Mr. Powell and considered trying to fire or demote him.