Trump suggests he can remove Fed Chair Powell, saying he’s ‘not happy’ with him over interest rates
By AAMER MADHANI and JOSH BOAK, Associated Press
WASHINGTON (AP) — President Donald Trump attacked Federal Reserve Chair Jerome Powell on Thursday for not cutting interest rates and said he could fire him if he wanted to, renewing a threat from his first term that could cause a major legal showdown over the issue of the central bank’s longstanding political independence.
“If I want him out, he’ll be out of there real fast, believe me,” Trump said in the Oval Office while taking questions from reporters with Italian Prime Minister Giorgia Meloni. “I’m not happy with him.”
Trump’s comments followed a posting on his social media site in which he called on Powell to cut the Fed’s short-term interest rate and said, “Powell’s termination cannot come fast enough!”
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