US EditionTrump: Fed board should assume control if Powell won't lower interest rates
DISTRICT OF COLUMBIA, UNITED STATES, AUG 1 – Trump demands immediate rate cuts, calling inflation negligible despite Fed's 2.6% measure, and urges the board to replace Powell if he refuses, citing potential economic benefits.
- President Donald Trump called for the Federal Reserve board to assume control if Chair Jerome Powell refuses to substantially lower interest rates.
- Trump issued this call in posts on his Truth Social platform, criticizing Powell as stubborn amid the Fed holding rates steady this year at 4.33%.
- Powell has kept the benchmark rate unchanged despite inflation running at 2.6%, slightly above the Fed's 2% target, while two governors dissented favoring slight cuts.
- Trump demands a three percentage point rate cut, arguing it would boost growth and lower debt servicing costs, though experts warn such cuts could accelerate inflation.
- Powell's term ends in May 2026, when Trump can appoint a Senate-confirmed successor, leaving Fed leadership and rate policy uncertain amid political tensions.
121 Articles
121 Articles
Trump admits that firing the central bank chief would destabilize the
WASHINGTON: US President Donald Trump said on Friday that Federal Reserve Chair Jerome Powell will “most likely” stay in his position even as Trump sharply criticized the Federal Reserve’s policies. In an interview with Newsmax that aired on Friday, Trump said he would remove Powell “in a heartbeat” and said the Fed’s interest rate was too high but added that others have said
Trump urges Fed board to usurp chair’s power
WASHINGTON — President Donald Trump called for the Federal Reserve’s Board of Governors on Friday to usurp the power of Fed Chair Jerome Powell, criticizing the head of the U.S. central bank for not cutting short-term interest rates.
Trump Calls for Replacement of Jerome Powell
Trump Calls for Replacement of Jerome Powell In a recent Truth Social post, former U.S. President Donald Trump criticized Federal Reserve Chairman Jerome Powell, suggesting he should be "put out to pasture."Trump's comments also targeted Erika L. McEntarfer from the U.S. Bureau of Labor Statistics, calling for her dismissal.The former president argued that the economy flourished during his term, despite the Federal Reserve's problematic interest…
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