The News
US President Donald Trump on Thursday lashed out at the Federal Reserve chair for not cutting interest rates, saying Jerome Powell’s “termination cannot come fast enough.”
Trump’s taunt came as the European Central Bank cut rates, and a day after Powell warned that US tariffs could lead to higher inflation and slower growth.
No president has ever attempted to remove a Fed chair prematurely, and such a move would fuel market instability after several rocky weeks for investors, analysts say.
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White House allies, however, don’t see Trump’s attacks as an attempt to immediately oust Powell, but rather “an effort to throw the Fed chair off balance and position him as a future scapegoat for the country’s economic woes,” Politico reported.
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