Trump, Jerome Powell and federal reserve
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Investors, not the Fed, control the interest rates that matter most to businesses and consumers. They might demand higher returns if the central bank’s independence comes into question.
First, consider the case of Richard Nixon and his Fed Chairman, Arthur Burns. At the end of 1969, after he was nominated, but before he took office, Burns was told by Nixon that his predecessor “was always six months too late doing anything.
While almost no one thinks Donald Trump's verbal attacks on Federal Reserve Chair Jerome Powell are a positive development, they have electrified the debate about whether the U.S. president is right that interest rates are too high.
Kevin Hassett, one of President Donald Trump’s longest-serving economic aides, is the early frontrunner to replace Jerome Powell as Federal Reserve chief next year, according to people familiar with the process.
Economic experts say the Federal Reserve is unlikely to cut rates despite President Donald Trump's demands due to uncertainty from tariff hikes.
The dollar weakened as speculation arose over U.S. President Trump's potential dismissal of Federal Reserve Chair Jerome Powell. Concerns about the move affecting U.S. market stability heightened, while Trump criticized Powell for not cutting interest rates.
A new report shows inflation has picked up and analysts believe the prices of many goods increased, in part, because of President Trump’s tariffs. It will play into decisions by the Federal Reserve about when and whether to cut interest rates and comes as the president and his team have ramped up their pressure campaign on Fed Chair Jerome Powell.
A Fed policy rate that low is not typically a sign that the U.S. is the "hottest" country in the world for investment, as Trump has said.
National Economic Council director is one of the US President's longest-serving economic aides. Read more at straitstimes.com. Read more at straitstimes.com.
Privately, White House officials acknowledge uncertainty about Trump firing Powell solely based on accusations he mismanaged a multi-year renovation project.