US EditionGOP senators warn Trump that firing Powell would send ‘shock wave’ through economy
UNITED STATES, JUL 17 – GOP senators caution that firing Federal Reserve Chair Jerome Powell could trigger market turmoil and a constitutional crisis, with a 20% chance of removal by year-end, experts say.
- A three-term Senate Republican, Kennedy, publicly urged President Donald Trump to keep Powell, warning that firing him could trigger a global economic meltdown.
- According to the New York Times, Trump drafted a termination letter and polled House Republicans on firing Powell, amid recent threats to remove him.
- Crucially, a move to remove Powell would mark the first without cause in modern U.S. history, fueling a political firestorm on Wall Street Wednesday.
- He added, `If you fire the chairman of the Federal Reserve, you will see the stock market crash, and you will see the bond market crash,` Kennedy said, while noting potential grave economic consequences from a leadership shakeup.
- Prediction markets show odds for Powell's successor led by Kevin Hassett at 34%, and experts warn a Treasury sell-off could bankrupt the government.
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'Oh my God!' Dems prepare for 'A-bomb' to hit market after Trump threat
WASHINGTON – A California Republican admitted to not being a “super-duper financial expert” — then said he understood President Donald Trump’s urge to break with political convention and fire Federal Reserve Chair Jerome Powell.That move, many financial experts and Democrats have said, will mean disaster for the U.S. economy.“I don't get the feeling [Powell] is very responsive to the cues of the economy like you should be,” Rep. Doug LaMalfa (R-…
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News & RecordGOP senators caution against firing Fed chair
WASHINGTON — Federal Reserve Chair Jerome Powell gained some key backing on Capitol Hill from GOP senators who fear the repercussions if President Donald Trump follows through with threats to try and remove the politically independent central banker.
Warren: Trump 'Will Bring Down U.S. Financial Markets' if He Ousts Powell
Senator Elizabeth Warren (D-MA) said Wednesday on CNN's "The Source" that President Donald Trump would "bring down the U.S. financial markets" if he fired Federal Reserve Chair Jerome Powell. The post Warren: Trump ‘Will Bring Down U.S. Financial Markets’ if He Ousts Powell appeared first on Breitbart.
A U.S. senator is concerned about Jerome Powell's dispute, which is why Republican John Kennedy Donald Trump warns against dismissing the head of the central bank. Otherwise, the U.S. president is threatened with a crash.
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