Washington D.C. - President Donald Trump addressed speculation about the future of Federal Reserve Chairman Jerome Powell, stating definitively that he has "no intention" of firing him. This announcement follows months of reported tension between the President and the head of the central bank regarding interest rate policy.
Trump reiterated his long-held belief that the Federal Reserve should lower interest rates. He argues that lower rates would stimulate economic growth and make the United States more competitive in the global market. The Federal Reserve, responsible for setting monetary policy, has maintained a more cautious approach, citing concerns about inflation and economic stability.
The relationship between the President and the Federal Reserve is often scrutinized, as the Fed's independence is considered crucial for maintaining economic stability. While the President can nominate the Fed Chairman, the Chairman's decisions are intended to be free from political influence. Trump's continued public comments on interest rates highlight the ongoing debate surrounding the optimal approach to managing the U.S. economy.
Trump Says He Won't Fire Fed Chairman Powell, Wants Lower Rates
President Trump stated he has "no intention" of removing Federal Reserve Chairman Jerome Powell from his position. However, he repeated his desire for the central bank to decrease interest rates. Trump has been critical of the Fed's monetary policy in the past, arguing that lower rates would boost the economy. This statement comes amid ongoing discussions about economic growth and the role of the Federal Reserve.
Source: Read the original article at ABC