Donald Trump, Powell and Federal Reserve
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Donald Trump is once again turning up the heat on Federal Reserve Chair Jerome Powell, this time calling him “truly one of my worst appointments” and blaming him directly for freezing out young homebuyers with high interest rates.
Warren added the next Fed chair will face a tough task proving they’re committed to central bank autonomy, as concerns grow that Trump may nominate someone more loyal to him than to economic principles.
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.
Odds on binary event futures that President Trump fires Federal Reserve Chair Jerome Powell spiked midday on Wednesday following reports that the president had drafted a letter to fire Powell, which Trump then denied.
Barron’s spoke with Tobin Marcus, head of U.S. policy and politics with Wolfe Research and a former White House advisor during the Obama era, about what could unfold if Trump follows through on such a move. An edited version of our conversation is below.
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President Trump asked Republican lawmakers this week whether he should fire Federal Reserve Chair Jerome Powell, whom he appointed to the position in 2017. The move followed months of criticism by Trump of Powell,
Wall Street appears calm after President Donald Trump walked back his earlier threats to fire Federal Reserve Chair Jerome Powell.