Jerome Powell, Fed and Trump
Digest more
The most recent criticisms against Fed chair Jerome Powell come after President Donald Trump continues to demand lower interest rates.
Federal Reserve Chair Jerome Powell on Thursdayresponded to a Trump administration official's demands for information about cost overruns for a renovation project at the central bank's Washington headquarters campus,
President Donald Trump said Jerome Powell should “resign immediately” if allegations from an administration official that the Federal Reserve chair misled lawmakers prove true, while deepening his personal attacks against the head of the central bank over interest rate policy.
If President Donald Trump were to fire Federal Reserve Chair Jerome Powell, it could have unintended and severe consequences that reverberate throughout the US economy and global markets.
The central bank is quietly pushing back with a new “Frequently Asked Questions” page on its website defending the central bank’s renovation.
Even if Trump doesn’t attempt to force Powell’s removal, his administration may be considering other ways to undermine the Fed’s credibility. ... Trump’s Attacks on Powell Are Strategic.