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 his dissatisfaction with the Fed's current policies.
- Trump criticized the Fed’s rate policy this year, while also condemning a $2.5 billion Fed headquarters renovation as wasteful.
- 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 it would be a huge mistake.
- The nation's highest court highlighted the Fed's unique independence from presidential removal powers, while JPMorgan Chase CEO Jamie Dimon cautioned that 'playing around with the Fed can often have adverse consequences.
81 Articles
81 Articles
The status of the dollar as the dominant global reserve currency is regarded as an "exorbitant privilege" and has so far been hardly vulnerable. However, because Donald Trump undermines the dollar, Europeans see their chance.
'There's Kool-Aid on the side of your mouth!': Panel erupts over Trump's health
President Donald Trump's memory became a contentious talking point on CNN's "NewsNight with Abby Phillip" on Thursday. Over the last several days, Trump's memory has seemed to lapse at some important times. Trump seemed to forget that he appointed Federal Reserve Chairman Jerome Powell in 2017. Inst...
Donald Trump seems determined to put decades of independence of the U.S. central bank at risk with his increasing pressure to remove Jerome Powell from the Federal Reserve. Trump insists that Powell should have long ago lowered interest rates and that not doing so puts at risk the growth of the world’s first economy. The president has been playing for months with the idea of ceasing Powell before the end of his term as head of the Fed, in May 20…
Peso weakens further as allayed Fed fears power up dollar
MANILA, Philippines – The peso sank deeper into the 57:$1 level on Thursday, as the dollar gained strength after US President Donald Trump had said he won’t fire Federal Reserve chair Jerome Powell at this time. READ: Trump says not firing Fed chair — but not ruling out The clarification allayed market concerns about the
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 …
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