President Donald Trump announced he will not seek to replace Federal Reserve Chair Jerome Powell when he takes office in January, despite their previous disagreements.

In an interview on NBC’s Meet the Press, Trump said he doesn’t foresee asking Powell to step down, though he acknowledged their differing stances on interest rate policies. Trump had previously clashed with Powell during his first term over rate hikes and has pledged to lower borrowing costs for Americans, setting the stage for potential future tensions.

Powell has stated he would refuse to leave early, citing legal protections for his position.