French Minister Urges Against Removal of Powell, Raising Concerns over U.S. Dollar’s Credibility

French Finance Minister Eric Lombard issued a warning in April 2025 against removing Federal Reserve Chair Jerome Powell, citing potential market instability and a decline in the U.S. dollar’s credibility. Lombard expressed concern that such a move could significantly disrupt global markets and the U.S. economy. Lombard highlighted his belief that President Trump’s past actions on tariffs had already damaged the dollar’s reputation. If Powell were to be replaced, this damage would be amplified, leading to increased borrowing costs and potential economic volatility.