Trump official criticizes Fed chief Powell
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The president’s attacks on the independence of the Federal Reserve could further harm the dollar’s status as the preeminent international reserve currency, making credit dearer rather than cheaper.
Trump administration official Bill Pulte released a statement suggesting that Fed Chair Jerome Powell is considering resigning amid mounting pressure on his leadership.
Federal Reserve Chair Jay Powell has reiterated that rate decisions will be data-driven — by inflation, and employment.
A dispute over the Federal Reserve’s renovation of its headquarters could provide the pretext to attempt the removal of Fed chief Jerome Powell over interest-rate disagreements.
2hon MSNOpinion
There are any number of rumors that Jay Powell is being forced to resign. President Donald Trump, of course, is on his case daily for not dropping interest rates in line with low inflation.
President Donald Trump on Monday continued his extended attack against Federal Reserve Chair Jerome Powell and the central bank’s Board of Governors, calling for ultra-low rates in an intensifying campaign demanding interest rate cuts.
Republicans believe Powell’s testimony to Congress about an ongoing $2.5 billion DC office renovation may be a way to force him to step aside.
JPMorgan Chase CEO Jamie Dimon said on Thursday he thought the financial market was underestimating the possibility of U.S. interest rates climbing higher, a prospect he described as a "cause for concern".