US EditionTrump says he's not planning to fire Fed's Powell
UNITED STATES, JUL 17 – Trump criticized Powell's interest rate policy and a $2.5 billion Fed building renovation but said firing him is unlikely without evidence of fraud, reflecting market concerns over Fed independence.
- On Tuesday, President Donald Trump discussed the concept of dismissing Fed Chair Jerome Powell with House Republicans, signaling potential policy conflicts.
- Beyond rates, Trump criticized a $2.5 billion Fed renovation project as wasteful, criticizing the policy shortfall while condemning the costly project.
- In midmorning trading, the S&P 500 fell 0.7% on reports of Powell's ouster.
- North Carolina Sen. Thom Tillis warned that dismissing Powell would provoke an immediate response, saying `you are going to see a pretty immediate response`.
- The nation's highest court highlighted the Fed's unique independence from presidential removal powers, while JPMorgan Chase CEO Jamie Dimon cautioned that meddling with the Fed could have adverse consequences.
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75 Articles
Fed chair Powell in Trump's firing line
What happenedPresident Donald Trump said Wednesday it was "highly unlikely" he would remove Federal Reserve Chairman Jerome Powell from his post. But he suggested Powell might have "to leave for fraud" over the $2.5 billion Fed headquarters renovation project that the president says has been mismanaged.Trump has ramped up pressure on Powell to cut interest rates as his own import tariffs nudge inflation upward. Stocks dropped on the prospect of …
After the release of macroeconomic data, the American president is still targeting the Fed governor
Season 576 of 'Trump forgot again' as the president publicly rewrites his decision and dumps the script on Biden
President Donald Trump displayed another concerning memory lapse when he expressed surprise about Jerome Powell’s appointment as Federal Reserve chairman, seemingly forgetting that he was the one who nominated Powell to the position in 2017. According to MSNBC, the incident occurred during Trump’s recent public appearance, where he made several comments about the Federal Reserve chairman, whom he has frequently criticized. “I was surprised he wa…
According to rumors about an imminent dismissal of head of the central bank Powell by US President Trump, resistance is formed in the Senate. "The stronger the dollar, the more likely such a step", says economist Johannes Mayr in conversation with Dietmar Deffner.
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