US EditionTrump says he's not planning to fire Fed's Powell
UNITED STATES, JUL 16 – Trump says firing Federal Reserve Chair Jerome Powell is "highly unlikely" despite ongoing criticism over interest rates and a $2.5 billion Fed renovation, calming market concerns this week.
- President Donald Trump said on Wednesday that he is not planning to fire Federal Reserve Chair Jerome Powell, calling it highly unlikely.
- Trump's frustration with Powell arose from the Fed's decision not to cut interest rates this year to support loans and economic growth.
- Inflation in June rose to 2.7% compared to the previous year, marking an increase from May, while unemployment slightly declined, indicating a mixed economic outlook.
- Economists noted inflation remains above target, with Bank of America's Stephen Juneau stating tariffs are passed on consumers and the Fed should pause rate cuts.
- Trump's tariffs appear to be raising prices on imports, contributing to inflation challenges that complicate Fed policymaking and economic conditions.
93 Articles
93 Articles
European and American stock indexes are rising today, oil prices have risen while gold and wheat prices have fallen, and markets have reacted positively to US President Donald Trump's statement that he will not replace US Federal Reserve Chairman Jerome Powell, despite previous announcements.
Trump leaves Wall Street rattled as he says he is 'unlikely' to fire Powell
NEW YORK — President Donald Trump sent the U.S. stock market on a jagged round trip Wednesday after saying he had “talked about the concept of firing” the head of the Federal Reserve. Such a move could help Wall Street get the lower interest rates it loves but would also risk a weakened Fed unable to make the unpopular moves needed to keep inflation under control.
The New York Stock Exchange Square recorded rebounds in its interior, encouraged by the comments of President Donald Trump, who specified that it is not in his plans to fire the president of the Federal Reserve, which cleared the doubts of the investors about seeing the autonomy of the monetary entity threatened.As a result, the Dow Jones increased 0.53 percent, in the entire 44 thousand 254.78, followed the S&P 500, with 0.32 percent more, in t…
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